Ant International’s Muslim Pro deal spreads pilgrimage costs over 24 months

Families can pay for flights hotels meals and transport in instalments.

Bettr, a provider of embedded finance solutions under Ant International, has partnered with Islamic lifestyle app Muslim Pro to introduce an Umrah pilgrimage financing solution in Malaysia. 

Muslim Pro currently reports over 190 million downloads globally.

The digital service allows eligible individuals and families to spread the cost of Umrah travel packages over instalment tenures of 12 to 24 months.

Available packages cover flights, accommodation, meals, and ground transport for individuals or families, with options for early settlement.

To ensure compliance with Islamic principles, the financing uses a Tawarruq (Commodity Murabahah) structure. 

The process is facilitated through SEDANIA As Salam Capital's digital commodity trading platform, AS-SIDQ, and has been endorsed by Islamic finance consultancy Masryef Advisory Sdn. Bhd.

The initiative targets Malaysia's Muslim population of approximately 22 million, which makes up roughly 65% of the national total. 

Bettr stated that applicant capability will be assessed using credit risk models designed to extend access to gig workers and small business owners alongside standard applicants.

Nafees Khundker, Group Managing Director and CEO of Muslim Pro, said the collaboration aims to provide a responsible framework for users planning pilgrimages through the app.

Quan Yu, General Manager of Bettr Credit and Senior Vice President of Ant International, added that the partnership forms part of the firm's strategy to scale digital, Shariah-compliant financial products through established digital platforms.