Haball secures $52 million funding to grow Islamic finance business

8/4/2025 14:03

Haball, a Pakistan fintech firm, raised $52 million to expand its shariah-compliant supply chain financing and payments services.

The company said in a statement, he funding, led by Zayn VC and Meezan Bank, includes $5 million in equity and $47 million in strategic financing, and will support Haball's growth plans for Pakistan.



It added, the money will also help Haball's expansion into the Middle East, starting with Saudi Arabia this year.



According to the Quarterly Islamic Banking Bulletin released by the State Bank of Pakistan, Islamic banking and finance has been growing rapidly in Pakistan, the world's second most populous Muslim country, with assets reaching 9,689 billion Pakistani rupees ($34.54 billion)at the end of June 2024.



The market share of assets and deposits of the Islamic banking sector in the overall banking industry stood at 18.8% and 22.7% respectively.