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Welcome to Micro Finance Institution!!

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HalaalMaal

Halalmaal Micro-Finance Institution (HMFI) was incorporated under the laws of the Republic of Somaliland in 2016. The company has its headquarter in the capital, Hargeisa and has offices in other regions of Somaliland. The company was formed with the purpose of providing Islamic microfinance products and services including Village Saving Association Innovations in an attempt to find social and financial solutions to the poor women and youth. As a Microfinance Institution, HM intends to increase opportunities for the poor to access financial services by providing financial products & services to low-income people. HM is committed to serve the needy and underprivileged members of the communities in Somalia: the low-income people and particularly women groups, individuals and youth. HM extends a small loan to women groups, individuals, youth and women –led businesses that do not have an access to this type of capital. Women are statistically more likely to repay a loan than men are, and that is the reason why women & youth are the primary targets of HM. This allows individuals who are living in poverty to work on becoming financially independent so they can work their way into better living conditions.

Our Services

Village Savings Association

HM organizes and manages A Village Savings and Association model for village level low-income communities. VSA is a group of people who save together and take Sharia compliant microloans from those savings. The activities of the group run in cycles of one year, after which the accumulated savings and the loan profits are distributed back to members. The purpose of a VSA is to provide simple savings and loan facilities in a community that does not have easy access to formal financial services.

Safe Deposit Boxes

HM offer storage facilities for people who want storage for their valuables such as gold items and important documents (passports etc.)
Our vault is conveniently located close to Centre of the city, and provides safe and convenient storage for clients. HM normally accepts gold items and other valuables for storage for nominal safekeeping fee that is based on the period the storage is rented.

Sharia Complaint Financing - Murabaha

HM provides small micro-loans to small businesses led by women and youth entrepreneurs. This type of micro-loan is ‘’ Murabaha’’ based that is non-interest bearing loan and acceptable form of credit sale under Islamic Sharia. As majority of women own gold, HM offers Sharia complaint micro-credit to women groups/individuals who use our storage but the safekeeping fee is waved. This is an opportunity those who use our Safety Deposit Boxes.

Sharia Complaint Financing - Rahan

We provide Rahan based Islamic micro-credit that is available to people in the lower income groups to obtain quick & easy access to cash. This form of credit allows gold jewelry and other valuable assets to be used as collateral against a credit.

Capacity Building

HM provides capacity building programs of which its main purpose is to minimize an over-reliance on outside experts as sources of knowledge, resources, and solutions to community issues. It fosters a sense of ownership and empowerment, so that community partners gain greater control over their own future development

Credit Bureau

We have a database in-built with our loan software that creates a profile of credit history for each of our clients. The database shows the details of the borrower (Name, Gender, DOB, ID, Photo, etc.), the amount borrowed and his/her repayment record. This information is very confidential and will be used for assessing the clients’ credit worthiness when required.

Our Projects

We are here to Acelerate your business and help you find the way.
Show All Projects
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Gobanimo Market retailers
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VSA innovations
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SMEF

HM has a capacity building wing called

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Credit evaluation System
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Secure Facility (Safe Deposit Boxes)

Request a call back.

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