Bettr, a fintech solutions provider under Ant International, has partnered with Muslim Pro to introduce a Shariah-compliant Umrah financing service in Malaysia. This initiative aims to assist Muslims in managing the financial demands of the pilgrimage by allowing them to spread costs over 12 to 24 months. The service is particularly targeted at individuals aged 30 to 50, who often support families and need to maintain financial stability.
The financing solution employs a Tawarruq structure, facilitated by AS-SIDQ, SEDANIA As Salam Capital’s digital commodity trading platform, ensuring compliance with Islamic finance principles. This partnership allows eligible users to explore Umrah packages, including flights and accommodation, through the Muslim Pro app, and apply for financing digitally.
With a global Muslim population of two billion, including 22 million in Malaysia, the demand for integrated financial services is growing. The partnership between Bettr and Muslim Pro addresses this need by providing a seamless and secure way for Muslims to plan their pilgrimage without compromising other financial commitments.
Nafees Khundker, CEO of Muslim Pro, expressed pride in offering a responsible financing option, stating, “We’re proud to work with Bettr to offer a responsible, Shariah-compliant way for individuals and families in Malaysia to plan their pilgrimage with confidence.” Quan Yu, General Manager of Bettr Credit, highlighted the role of technology in expanding access to financial services, saying, “Our engagement in Islamic finance is driven by a deep faith in the power of technology to do good.”
This collaboration marks a significant step in Bettr’s Islamic finance initiative, reinforcing Ant International’s commitment to supporting Muslim communities with inclusive financial services.
