By Digital Spartans 
Among Pakistan’s few institutions fully operating under Islamic finance principles, Walee Financial Services has now earned its place with an official Shariah-compliant NBFC certification from the Securities and Exchange Commission of Pakistan (SECP). This achievement distinguishes Walee as the only NBFC in the digital nano-financing space to secure Shariah compliance from SECP—a milestone that reflects its commitment to ethical and transparent financial innovation.
Going forward, all financial products launched under the Walee umbrella will be built on Islamic finance models, ensuring every step—from product design to execution—embodies the principles of fairness, transparency, and social responsibility.
Advancing from Islamic Nano-Finance Toward Broader Innovation
In 2024, Walee Financial Services redefined digital finance in Pakistan with the launch of Hakeem, the nation’s first and only Islamic digital nano-financing platform. Using a unique unorganised Tawarruq model, Hakeem enables Shariah-compliant nano-financing by trading mobile airtime.
Just one year after its debut, Hakeem has achieved remarkable traction, with millions of downloads and hundreds of thousands of active users, offering Pakistanis a reliable and ethical way to meet their financial needs with trust and dignity
Dr. Rashid Mansoor, serving as Head of Shariah at Walee Financial Services, highlighted how this accomplishment contributes to the broader evolution of Islamic fintech in Pakistan.
“Alhamdolillah, the SECP’s certification of WFS as a Shariah-compliant company marks a defining milestone for Islamic fintech in Pakistan. It demonstrates that technology and innovation can thrive fully within the bounds of Shariah, free from Riba and grounded in ethical integrity. This achievement reaffirms our conviction that digital finance must serve faith and fairness, setting a precedent for others to build financial solutions that reflect both modern efficiency and divine guidance, In Sha Allah.” he stated.
According to Mufti Usama Ehsan, Shariah Advisor at Walee Financial Services, the certification marks a progressive step in deepening Pakistan’s Islamic finance identity.
“I am honored to be part of Pakistan’s first SECP approved unorganised Tawarruq model and one of the few Shariah-compliant NBFCs. This innovation sets a valuable precedent for the industry. With strong Shariah governance and visionary leadership, In sha Allah, it will grow into a model that strengthens Islamic finance.”
Developing a Purpose-Driven Islamic Finance Platform
Building upon this milestone, Walee is set to expand its footprint through the launch of a comprehensive range of Shariah-compliant digital solutions, including takaful distribution, remittance financing, women and MSME empowerment, and community-based financing. Each initiative has been developed to promote financial resilience and increase the accessibility of Islamic finance across Pakistan.
As it evolves into a multi-country Islamic financing platform, Walee aims to introduce faith-driven financial innovation to new markets—anchored by Pakistan as its foundational base. In tandem with these developments, the company is deepening its financial literacy programs to help individuals and SMEs better understand and engage with Islamic finance, ultimately empowering communities and advancing a fair and inclusive economy.
Defining the Next Chapter of Ethical Digital Finance
Walee Financial Services Chief Executive Officer Noshad Minhas highlighted the company’s ongoing effort to create ethical and inclusive financial systems powered by innovation.
“We are deeply grateful to the SECP for their continued efforts to advance financial inclusion and innovation while remaining true to the spirit of Islamic finance. By aligning ourselves with Pakistan’s 2028 vision for the elimination of riba, Walee Financial Services aims to lead by example and help enable the transformation of financial institutions and businesses toward fully Shariah-compliant models,” he said.
Supported by SECP’s certification, Walee Financial Services is set to deepen its engagement in Pakistan’s expanding Islamic finance landscape. Its focus remains on developing a sustainable, Shariah-compliant digital framework that empowers consumers, enables inclusion, and advances financial justice.
About Walee Financial Services
In Pakistan’s evolving financial landscape, Walee Financial Services—a licensed Non-Banking Financial Company—stands at the forefront of Islamic, inclusive, and tech-driven finance. Combining data intelligence, innovation, and Shariah compliance, the company works to make finance more accessible and equitable. Its flagship initiative, Hakeem, the nation’s first Islamic nano-financing platform, continues to extend financial support to underserved communities nationwide.
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