Sharia-compliant microfinancier ASAL Microfinance has partnered with Musoni System to bring financial services to underserved communities in Somalia. By harnessing the power of Musoni’s core banking system, ASAL Microfinance aims to enhance its operational efficiency and expand its range of Sharia-compliant financial products and services.

Musoni System is known for its cutting-edge cloud-core banking system, digital field application, and open APIs capabilities. In addition, they enable financial institutions to streamline operations, automate processes, and deliver seamless banking experiences to customers. Musoni further has a user-friendly interface and robust functionality, which makes the system suited for MFIs, including those that adhere to Sharia principles.

Catalysing financial inclusion in Somalia This partnership marks the beginning of ASAL Microfinance’s journey in the business world, and it is poised to make a significant impact by promoting financial inclusion and economic development in Somalia. Executives from ASAL Microfinance said they are happy to collaborate with Musoni as they embark on a new era of financial inclusion in Somalia. By leveraging Musoni, they can better serve their customers and extend their reach.

This partnership also holds potential to positively impact the lives of individuals and businesses in Somalia. Driving Sharia-compliant financial transformation Musoni’s track record of empowering financial institutions worldwide aligns with ASAL Microfinance’s values and mission as a Sharia-compliant MFI. By utilising Musoni, ASAL Microfinance and other Sharia-compliant MFIs will have the necessary tools to provide a wide range of financial services, while ensuring compliance with Sharia principles.

Musoni System’s officials said they are happy to support ASAL Microfinance and other Sharia-compliant MFIs on their journey toward financial inclusion. Their core banking system is designed to empower institutions like ASAL Microfinance to reach more customers, enhance operational efficiency, and offer a broader suite of financial products. Together, they can make a significant impact in transforming the financial landscape of Somalia.

By combining Musoni’s technology with ASAL Microfinance’s local knowledge and commitment to Sharia-compliant financial products, this partnership has the potential to uplift communities and stimulate economic growth in the region. What does ASAL Microfinance do? ASAL Microfinance is a microfinance business established in Somalia and licensed by the Central Bank of Somalia. They provide a mechanism to financially assist people who are mostly excluded from the banking system by exceeding their expectations by providing a wide range of products and innovative solutions which are sharia compliant.

More information about Musoni System Musoni is a digitalisation partner for microfinance institutions around the world. They help organisations improve their efficiency and extend their outreach through a variety of fintech solutions. These include a cloud banking system, digital field application, and open APIs capabilities.

They have over a decade of experience and support 70+ organisations in 26 countries. .