Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
Meezan Bank, Haball, and Dawlance have expanded the Wisaaq platform by launching a Murabaha-based digital supply chain financing facility for Dawlance distributors. The initiative delivers instant, Shariah-compliant financing to improve liquidity, speed up inventory procurement, and modernise Pakistan’s supply chain ecosystem through a fully digital, data-driven model.
Saudi Awwal Bank and United Pharmaceuticals have completed Saudi Arabia’s first digital Islamic supply chain finance transaction. The initiative streamlines payments and enhances working capital management for suppliers through a Shariah-compliant, automated platform. This marks a significant step in integrating Islamic finance and digital transformation in the Kingdom.
Haball, a Pakistani fintech offering shariah-compliant supply chain finance solutions, raised USD 52 million in pre-Series A funding. The round, led by Zayn VC and Meezan Bank, will support Haball’s expansion into Saudi Arabia and the GCC, addressing the region’s demand for digital financial services for SMEs.