Halal Invest wins $10,000 NASFATBUILD grant

Halal Invest, a digital market platform that simplifies access to varieties of interest free financial products and services, has won the maiden edition of the Nasrul-lahi-l Fatih Society (NASFAT) Business Incubation Launch paD (BUILD), taking home the $10,000 winner’s price.

At the award presentation held in Lagos over the weekend, the President of NASFAT, Olaniyi Yusuf said the initiative, launched in March 2020, as part of NASFAT’s 25th anniversary celebration, was a 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 is opened to any startup or business venture that has at least one Muslim as a co-founder. 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.

“The winning pitch has a $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 four priorities of HELD: Health, Education, Livelihood and Dawah (#NASFATHELD). 

These four priorities 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 prize has already been paid to the company by the organisers, even as he expressed gratitude to the organisers.

“It is a great honour and privilege to be here today with my team, as the winner of the completion.

“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?