Micro-murabaha
Small asset purchases are financed by murabaha with short, simple schedules.
Social
Islamic microfinance
Small amounts, many customers and the need for low-cost, fair contracts.
Islamic microfinance serves micro-entrepreneurs and households with small murabaha, qard hasan and group-based products. The cost of each contract has to be low and the terms clear. IslamicOpenFinance™ provides ready contract models and mobile-first flows that keep operations light.
Financial products
What you build on IslamicOpenFinance™
Qard hasan
Benevolent loans are repaid at face value, with no benefit stipulated for the lender.
Group products
Group-based financing records each member's obligations and the group's support.
Mobile collections
Instalments are collected through mobile wallets and reconciled automatically.
Donor-funded pools
Funds from donors or zakat bodies are tracked separately from the institution's own funds.
Value chain
The actors in this chain
IslamicOpenFinance™ connects them with one contract model, one policy and one evidence trail.
Micro-entrepreneurMicrofinance institutionDonors and zakat bodiesMobile wallet providerField officer
Typical flow
A typical flow, step by step
- Application
- Group formation
- Asset purchase
- Murabaha sale
- Mobile instalments
- Repayment
- Repeat financing
Live demo
See it in the terminal
A small murabaha for a sewing machine (demo), with instalments collected by mobile wallet. Demo data
DemoAll institutions, people, amounts and events are fictional demonstration data. Nothing here is a Shariah ruling, an offer or advice; approving a product is for each institution's own Shariah board and regulator.