Islamic Financing Products for SMEs


I’ve been recently looking at options for halal financing for SMEs, and I can’t really find much.

There are few Fintechs in Saudi (e.g. which are open to investors and borrowers.
In the UK, there is currently Qardus, which has a similar offering. I also found that the new Islamic challenger bank Niyah plans to offer SME financing services.

Does anyone have some experience with this?


Wa alaykum salaam,

I believe there are a couple others coming through soon. Most of the products focus on working capital financing.

Jazak Allah khair Mufti Faraz,

I wonder if these are more expensive than the other non-Islamic options? and what was the experience like for those who’ve used them?

Interested to hear what everyone thinks.