Business Desk 
Apr 08, 2025
An undated image. — Haball
In a move to instil Islamic principles in the country's fintech landscape, Pakistan's renowned fintech firm Haball has raised $52 million in a funding round led by Zayn VC and Meezan Bank.
As per the announcement made by the company on Tuesday, the funding includes $5 million in equity and $47 million in strategic financing to expedite Haball’s growth in Pakistan.
Haball is also planning to launch its operations in the Middle East, reportedly poised to begin with Saudi Arabia later this year, according to Reuters.
Haball provides shariah-compliant supply chain financing and digital payment solutions to nearly 8,000 SMEs and multinationals.
The fintech giant's services include digital invoicing, payment collection, and tax compliance tools designed to align with Islamic finance principles.
The investment comes at a time when Islamic banking is rapidly expanding in Pakistan. As of June 2024, the sector's assets totalled Rs9,689 billion ($34.5 billion), with Islamic banking holding an 18.8% share of total assets and 22.7% of total deposits, according to the State Bank of Pakistan (SBP).
The SBP aims for 30% of all banking assets and deposits to be Islamic by the end of 2025.
Islamic finance prohibits interest and speculative investments, rather focusing on ethical, asset-backed financial services.
