Halal Invest, a digital market platform that simplifies access to variety of interest-free financial products and services, has won the maiden edition of the Nasrul-lahi-li Fathi Society of Nigeria (NASFAT) Business Incubation Launch Pad (BUILD) of $10,000 winner’s price.
At the award presentation held in Lagos recently, the President of NASFAT, Olaniyi Yusuf, said the initiative which was launched in March 2020, was part of NASFAT’s 25th anniversary celebration, adding that the competition aimed at providing, “funding, mentoring and market access opportunities for young Muslim entrepreneurs and startups, which will enable them to innovatively address some of the major challenges of the world.
“NASFATBUILD provides a genuine chance for Muslim entrepreneurs to change the world and improve the lives of some of the world’s most disadvantaged people.
“Our targets are entrepreneurs and startups with innovative solutions, entrepreneurial mindset, can-do spirit and a big idea or solution that has the potential to positively impact Muslims, Muslim communities and humanity at large.”
He added: “The winning pitch was promised a whopping sum $10,000 investment from NASFAT, as well as additional potential investments by other Muslim angel investors, mentorship from renowned entrepreneurs, industry linkages, and access to experts and support from the NASFAT Secretariat for 12 months.
“Focus is on great ideas and solutions that will enable NASFAT to advance its 4 priorities of HELD: Health, Education, Livelihood and Dawah (#NASFATHELD).
“They are also encapsulated in the following six SDGs; zero poverty, zero hunger, good health and well-being, quality education, decent work and economic growth, and peace and justice, strong institutions.
“And today it is our pleasure to present before you the winner of the maiden edition of NASFATBUILD, Halal Invest ably represented by its founder, AbdulAzeez Oguntoyinbo.”
While giving his acceptance speech, Oguntoyinbo acknowledged that the cash price had already been paid to the company by the organisers, even as he expressed gratitude to the organisers.
“Halal Invest is an idea born out of the challenge we face in the Muslim world concerning accessing financial product that doesn’t negates our doctrine.
“We all know that the Islamic doctrine doesn’t encourage us to access facilities that come with payable interest, rather we only access interest free loans. But how many platforms do we know that provide such services?
“This is the gap Halal Invest has come to fill. We are like a go-to hub for Muslims and other people alike to know those interest free platforms available for their day to day financial needs in terms of products and services,” he said.