Halal Pesa FAQ
This is the first Shari’ah compliant based digital financing product powered by MPESA in partnership with Gulf African Bank Ltd. Currently it is a financing product only and does not have saving, which will be introduced later.
This product was designed to cater to our Muslim customers who stay out of other lending products since they don’t adhere to Shari’ah law. Shari’ah law does not support/allow taking loans/borrowing money from banks or individuals where interest is charged.
Since Halal Pesa product is based on Shari’ah principles, it operates under Tawarruq model: which basically means that the customer is given a facility and not a loan. For customers who would like to verify the Shari’ah compliance of the product and other product details please visit www.gulfafricanbank.com
Halal pesa is available to All M-PESA registered users.
Go the M-PESA Super App under the “Grow” option, Halal Pesa mini App. For customer without the M-PESA App, download from either the App store or Google play store
Or
- Dial *334#
- Select Loans and Savings
- Select Halal Pesa
- Select Register
- Check terms and conditions, read and then accept the terms and conditions
- Enter your MPESA PIN. You will receive a confirmation message from Halal Pesa
Yes. However, the assigned limit shall be distributed between the different mobile phone numbers.
The Halal Pesa limit will be allocated during opt- in process and customer will be notified via SMS. Go Halal Pesa mini App or Dial *334#
- Select Facility
- Select Check limit
- Enter your MPESA PIN
No. Only one facility can be requested at a time.
The minimum amount allowed is Kshs.1000. One cannot request for an amount less than this.
A customer may repay partially or in full;
- Go to Halal Pesa mini App or Dial *334#
- Go to Facility
- Select Pay Facility
- Select facility to be paid
- Select option to pay in full or partial.
- For full payment, enter the M-PESA PIN and confirm to pay
- For partial payment, enter the amount, M-PESA PIN and confirm to pay
If facility is not paid by day 31, the facility will be restructured to allow for another 30days at a 5% profit rate of the principal amount: Example: if you were given a facility of Ksh.1000, at profit rate of 5%, the total due on day 30 will be Ksh.1000 + Ksh.50 = Ksh.1050. If you are unable to pay by date 31 then the facility is restructured at a 5% profit rate again, where you will be expected to pay Ksh.1000+Ksh.50+Ksh.50 = Ksh.1100 by day 60. After day 60 no other charges will be applied on the facility.
Go to Halal Pesa mini App or Dial *347#
- Select Check Balance
- Enter right MPESA PIN
Go to Halal Pesa mini App or Dial *347#
- Select Facility
- Select Facility Balance
- Enter right MPESA PIN
- You will receive a message: “Your Halal Pesa outstanding Facility balance is Ksh.xxxx.xx due on 09-05-2022.
Minimum = Ksh.1,000 and Maximum = Ksh.15,000 (first time customers) & Ksh.20,000 (repeat customers) subject to customer’s qualifying limit
You can repay partial or full amount of your facility. To repay:
- Dial *334#
- Select Loans and Savings
- Select Halal Pesa
- Go to Facility
- Select Pay Facility
- Select the facility to be paid.
- Select the option to pay in full or partial.
- For full payment, enter the M-PESA PIN and confirm to pay.
- For partial payment, enter the amount, M-PESA PIN, and confirm to pay.
To check your Halal Pesa facility balance.
- Dial *334#
- Select Loans and Savings
- Select Halal Pesa
- Select Check Balance
- Enter your M-PESA PIN
- You will receive a notification SMS showing your balance.
To know your facility’s due date.
- Dial *334#
- Select Loans and Savings
- Select Halal Pesa
- Go to Facility
- Select Facility Balance
- Enter your MPESA PIN
- You will receive a message indicating your balance and due date.
The duration is 30 days.
Yes. If the facility is not paid by day 31, the facility will be restructured to allow for another 30 days at a 5% profit rate of the principal amount: For example: if you were given a facility of Ksh.1000, at a profit rate of 5%, the total due on day 30 will be Ksh.1000 + Ksh.50 = Ksh.1050. If you are unable to pay by date 31 then the facility is restructured at a 5% profit rate again, where you will be expected to pay Ksh.1000+Ksh.50+Ksh.50 = Ksh.1100 by day 60. After day 60 no other charges will be applied to the facility.
To know your facility’s due date.
- Dial *334#
- Select Loans and Savings
- Select Halal Pesa
- Select opt-out.
- Confirm you want to opt-out.
- Enter M-PESA PIN
In case of any queries,
- Call 100 or 200.
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