Shariah-Compliant
Microfinance in Tanzania
Through our Shariah-compliant microfinance services, we provide the support you need to turn your dreams into reality.
- Licensed by the Bank of Tanzania
- 100% Shariah-Compliant
- Fast Financing Disbursement
Microfinance Products
All financing arrangements shall be structured according to Sharia rules and principles. Your solution may fall on either of the following types:
Murabaha Financing
Cost-Plus Financing
We buy the item you need (e.g. machinery, equipment) and sell it to you for a set profit. You pay it back in fixed installments.
Mudaraba Financing
Profit Sharing
We provide capital for you to trade on our behalf. Profits are shared as agreed, and losses are shared per contract terms.
Musharaka Partnership
Partnership
We partner with you to fund a business. Profits/losses shared based on investment ratio.
Qardh
Benevolent Loan
We support you with zero profit charges. Our Qardh product offers a simple, ethical way to access the financial help you need.
Ijara Leasing
Lease to Own
We buy the asset and lease it to you, granting you the right to use and benefit from it (usufruct) for an agreed period.
Istisna Financing
Custom Manufacturing
We finance a product built to your specifications at an agreed fixed price, with delivery on a set date fully Shariah-compliant.
Diminishing Musharakah
Gradual Ownership
We jointly purchase an asset, and you gradually buy out our share over time until you become the full owner.
Salam
Advance Purchase
Pay in full now for agreed goods to be delivered later, securing fixed price and supply while giving the supplier upfront capital.
Commodity Murabaha
Cost-Plus Financing
Sometimes you need quick cash for personal or business needs. This product offers a powerful, Shariah-compliant way to secure that funding.
Takaful:
Mutual Support and Protection
At Amal Microfinance we offer a Shariah-compliant alternative to conventional insurance, built on the principles of mutual cooperation and solidarity. This is known as Takaful.
Instead of a traditional insurance model, Takaful operates as a cooperative system where participants contribute to a common fund. This fund is used to help any member of the group who suffers a loss.
How Takaful Works
Mutual Cooperation: You and other participants contribute to (Tabarru) a Takaful fund. Here, participants are co-owners, not creditors.
Solidarity: The fund is established with the intention of supporting one another in times of need — not for profit or indemnity. The fund is yours and acts as a guarantee pool”. The operator is your “Wakeel” (agent) or Trustee.
Ethical Principles: Our Takaful products are free from interest (riba), gambling (maysir), and excessive uncertainty (gharar), making them a transparent and ethical choice for your protection needs.
Amal Takaful agency works with various Takaful funds to provide our customers with support in times of need.
Get Our Financing in 3 Easy Steps
Quick, Simple, and 100% Shariah-Compliant
Choose a Product
Select the financing or Takaful plan that fits your need.
Apply
Complete a simple questionnaire and upload basic documents.
Get Funded or Protected
Receive funds or coverage — fast, fair, and fully Shariah-compliant.
Ready to Get Started?
Apply now and get the financing you need with fair, transparent, and Shariah-compliant terms.
Your Trusted Microfinance Partner in Tanzania
Amal Microfinance Co. Ltd provides fast, ethical, and transparent financing solutions to individuals and businesses across Tanzania. We operate on Shariah principles, ensuring fair and ethical services that empower communities.
“And cooperate in righteousness and piety.” (Quran, Al-Ma’idah 5:2)
Frequently Asked Questions (FAQ)
What is Amal Microfinance Co. Ltd?
We are a licensed microfinance institution in Tanzania offering ethical, interest-free, and Shariah-compliant financing and Takaful services. Our mission is to empower individuals, small businesses, and communities to achieve their financial goals in a way that aligns with their fait
What makes your services Shariah-compliant?
All our financial products and services are approved and overseen by our independent Shariah Supervisory Board to ensure they are fully compliant with Islamic principles. This means our offerings are free from interest (riba), gambling (maysir), and excessive uncertainty (gharar)
Is Amal Microfinance Co. Ltd regulated?
Yes, we are fully licensed and regulated by the Bank of Tanzania (BoT) to operate as a microfinance institution
Do I have to be Muslim to be a client?
No. Our services are open to all Tanzanians and legal residents, regardless of their faith. Our products are designed to be ethical, fair, and accessible to everyone.
Who can apply for your financing?
Our services are available to all Tanzanian citizens and legal residents who have a valid NIDA ID and a verifiable source of income or business activity. We provide financial solutions for individuals, small and medium-sized enterprises (SMEs), and community groups
What is Takaful?
Takaful is a cooperative system of protection where members contribute to a pool used to support each other in times of need. It is a Shariah-compliant alternative to conventional insurance.
How long does it take to get approved?
We strive for a fast and efficient process. Once your application is complete and all required documents are submitted, you can expect a decision within 48 hours. For simpler requests, a decision can be made on the same day
Do you charge any hidden fees?
No. We are committed to full transparency. All our costs, including our profit margin on products like Murabaha, are clearly disclosed and agreed upon with you upfront. There are no hidden fees or charges
How do I apply?
You can apply online through our website, visit our branch, or contact us via phone or WhatsApp.
Can I apply for both financing and Takaful services?
Yes. You can access our financing solutions and also choose from our range of Takaful products for additional protection.
Do I need collateral for a loan?
Collateral requirements vary depending on the specific financing product and the amount you require. For example, some of our Murabaha and Musharakah products may require collateral, while others for smaller amounts may not. Our team will discuss the specific requirements with you during the application process
What happens if I have trouble making a payment?
We encourage you to contact us immediately if you anticipate any difficulty with your payments. As a faith-based institution, we are committed to working with our clients to find a solution that is fair and manageable.
Where can I find your offices?
Our main office is located in 42 Marenda Street,
Mikocheni Industrial Area, Dar Es Salaam. You can also reach us via phone, email, or WhatsApp for assistance.
Get Started with Ethical Financing or Takaful Protection
Join thousands of Tanzanians who trust Amal Microfinance for fair, ethical financing and Shariah-compliant protection