Ant International's Bettr has partnered with Muslim Pro to introduce a Shariah-compliant Umrah financing solution in Malaysia. This initiative aims to assist Muslims, who constitute approximately 65% of Malaysia's population, in managing the financial demands of the pilgrimage. The service allows users to discover Umrah packages, apply for financing, and manage repayments through a single app.
The financing solution employs a Tawarruq structure, ensuring compliance with Islamic finance principles. This structure is facilitated by AS-SIDQ, SEDANIA's digital commodity trading platform, and endorsed by Masryef Advisory. The service offers flexible payment options, allowing costs to be spread over 12 to 24 months, which helps maintain household cash flow and savings.
Muslim Pro, a widely used Islamic lifestyle app, supports this initiative by integrating the financing service into its platform. Users can explore various Umrah packages, including flights and accommodation, and secure financing digitally. This partnership reflects the growing demand for integrated financial services within digital platforms, particularly among the global Muslim population of two billion.
Nafees Khundker, CEO of Muslim Pro, emphasised the importance of providing a trusted, Shariah-compliant way for Malaysians to plan their pilgrimage. Quan Yu, General Manager of Bettr Credit, highlighted the role of technology in supporting individuals and small businesses through innovative financial products. This collaboration aims to create an inclusive financial system that aligns with the core values of the Muslim community
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