Raqami and Haball Launch Shariah-Compliant SME Financing

Raqami Islamic Digital Bank has announced a strategic partnership with Haball to launch Shariah-compliant embedded finance solutions tailored specifically for Pakistan’s SME sector. Using Haball’s fintech infrastructure already trusted by thousands of small and medium enterprises the new offering enables seamless integration of Shariah-compliant financing directly within third-party platforms. This embedded model simplifies onboarding and significantly streamlines access to ethical financing for SMEs.

The collaboration builds on Haball’s rapid ascent in digital Islamic finance. Having secured $52 million in equity and strategic funding in April 2025, backed by investors like Zayn VC and Meezan Bank Limited, Haball already services nearly 8,000 SMEs with Shariah-compliant supply chain finance and payment solutions. This new embedded finance partnership boosts their ecosystem impact: businesses using Raqami-partnered platforms can now access digital financing options such as invoice factoring, working capital support, or micro-finance seamlessly within their own workflows.

For Raqami, this venture deepens its mission as Pakistan’s first fully digital Islamic bank. With its restricted pilot license from the State Bank of Pakistan and strong backing from institutions like Pakistan Kuwait Investment Company (Private) Limited and EnerTech Holding Company, Raqami is set to redefine ethical digital banking. The integrated solution enhances financial inclusion by empowering SMEs widely considered the backbone of Pakistan’s economy with timely, compliant financing tools embedded directly into the platforms they already use.