NewTech Friday: Halal – Building a bank for all

Ibrahim Lukman, Founder & CEO of Halal, describes how he is expanding the frontiers of financial inclusion in Nigeria and Africa with a no-interest rate policy.

What led to the creation of Halal?

Established as a result of growing dissatisfaction in the finance sector, ranging from high interest loans to unethical methods of debt recovery, Halal seeks to bring financial inclusion to MSMEs and individuals regardless of socio-economic status, religion or location. This is made possible by the introduction of the NO-interest rate policy.

At Halal, we believe that timely access to finance is critical to the sustainability of businesses. 

The journey, however, started in the year 2020 when I personally faced a financial struggle while attempting to obtain a loan to meet an immediate financial need, and eventually missed the opportunity I needed the funding to execute. The issues I faced at the time gave birth to the solution HALAL (meaning Lawful & Permissible) and our primary objective is to make loans easily accessible to anyone at the time they need it.