Coopbank Launches ‘Michuu-Mizan’, a Sharia-Compliant Digital Financing Platform

Coopbank, through its Interest-Free Banking Coopbank Alhuda, in partnership with Kifiya Financial Technology, has officially launched Michuu-Mizan, an innovative AI-powered digital financing platform, at Sheraton Addis Hotel.
Designed to expand access to Sharia-compliant financing, the platform leverages Artificial Intelligence (AI) and advanced digital financial technology to address the financing needs of Micro, Small, and Medium Enterprises (MSMEs).

Speaking at the launch ceremony, Mr. Deribie Asfaw, CEO of Coopbank, emphasized that Michuu-Mizan will address the challenges faced by businesses seeking financing solutions aligned with their values. He also highlighted the Bank's achievement of disbursing over ETB 70 billion through its collateral-free digital lending service, Michu, noting that the new platform further expands the Bank's inclusive financing services.

Mr. Munir Duri, CEO of Kifiya Financial Technology, highlighted the platform's AI-driven, data-based decision-making capabilities and advanced financial technology infrastructure, which will help underserved businesses access Sharia-compliant financing and support their growth.

Michuu-Mizan introduces two financing solutions tailored to different business needs:
Michuu-Mizan Yusra : Provides financing of up to ETB 100,000 to strengthen women's economic participation.
Michuu-Mizan Taajir: Offers eligible MSMEs financing of up to ETB 300,000 to support working capital requirements and business expansion.
Through this initiative, Coopbank further strengthens its commitment to expanding financial inclusion, supporting enterprise development, promoting sustainable growth, and delivering innovative financial solutions.
The launch marks another step in advancing the Bank's purpose of Empowering Communities, Transforming Lives!

by web admin