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Navigating Hakeem: How an AI Powered Shariah Compliant NBFC is Redefining Personal Financing and Building Digital Islamic Banking Rails

January 30, 2026
How an AI Powered Shariah Compliant

By Noshad Minhas CEO/Co Founder, Walee Financial Services | Hakeem

For genuine cash needs, classical fiqh recognizes Tawarruq as the only Shariah permissible structure that can substitute an interest-based cash loan. However, in modern banking practice, organized Tawarruq has often drifted far from its juristic foundations. Pre arranged broker loops, instantaneous buy sell cycles, and economically deterministic outcomes have turned many implementations into mirror images of conventional financing cash today, more cash tomorrow, wrapped in contractual formality. Unsurprisingly, this has drawn sustained scholarly criticism and rendered Tawarruq controversial, if not outright vilified, in many jurisdictions.
Yet the problem is not Tawarruq itself. The problem is how it has been operationalized.
How an AI Powered Shariah Compliant inner

The Case for Unorganized Tawarruq

When executed in its authentic form, unorganized Tawarruq restores the substance of trade:

• Real, identifiable assets are purchased and owned

• True sales are executed directly with the customer

• The customer is given a genuine option to take delivery

• The customer is free to liquidate the asset independently in the open market

• No pre-arranged buy-backs, no circularity, no synthetic price choreography

Ownership, possession, price risk, and choice are real not theoretical.

Ownership, possession, price risk, and choice are real not theoretical.

Historically, such structures were dismissed as impractical at scale. Today, that constraint no longer exists.

Technology has changed the equation. Digital platforms, AI driven orchestration, and real-time market connectivity now make it possible to operationalise unorganized Tawarruq at fintech speed, without sacrificing Shariah substance.

How Hakeem Operationalizes Authentic Shariah

Hakeem was built precisely to occupy this ethical and technological frontier.

Its unorganized Tawarruq model ensures that:

• True sales are executed directly with the customer, with full contractual clarity and transfer of ownership

• Customers are afforded a real and practical option to take delivery of the purchased commodity an option many have exercised

• Customers retain complete freedom to liquidate the asset in the open market, without interference

There is no broker ring. No synthetic loop. No contractual shortcut.

What exists instead is real trade, governed by real choice.

This establishes not only formal compliance, but Shariah substance a distinction that matters deeply to scholars, regulators, and, most importantly, customers.

Why NBFCs Are the Innovation Engine of Islamic Personal Financing

Shariah-compliant Non-Banking Financial Companies (NBFCs) are structurally positioned to pioneer such models. Unlike legacy banks constrained by core systems, product inertia, and conservative risk cycles, NBFCs can:

• Experiment with asset backed and trade-based structures

• Leverage alternative and behavioural data for underwriting

• Embed financing within communities and employer ecosystems

• Deliver speed without sacrificing governance

Hakeem combines AI driven credit genomics, behavioural data, and community-based risk models with deep Islamic banking expertise. The result is a platform that can approve financing in minutes, price risk fairly, and still anchor every transaction in real economic activity.

Building Digital Islamic Financing Rails

Hakeem is not just a consumer platform. It is being architected as digital Islamic financing infrastructure rails that Islamic banks and emerging institutions can ride on to rapidly build or expand personal and nano-financing portfolios.

Through co-financing and Islamic Banking-as-a-Service models, Hakeem is now enabeling:

• Islamic banks to launch retail financing without rebuilding underwriting engines

• Shariah boards to gain comfort in asset authenticity and transactional integrity

• Regulators to observe transparent, traceable, and risk-disciplined portfolios

• Global Islamic fintechs to plug into a Shariah-native credit stack

This is where modern data science meets classical fiqh, not as an afterthought, but as system architecture.

A Vision Beyond Products

The future of Islamic finance is not about cosmetic compliance. It is about rescuing communities from Riba based debt cycles, restoring dignity in financial access, and reconnecting money with real economic purpose.

If Islamic institutions can truly offer:

• The speed of fintech

• The trust of Shariah

• The discipline of modern risk management

• The compassion of Islamic ethics

then not millions but billions will no longer be forced to choose between necessity and belief.

Journey of Hakeem’s which is one of the product of Walee Financial Services owned by Walee Technologies is step toward that future where unorganised Tawarruq, enabled by AI and governed by authentic scholarship, becomes a breath of fresh air in a space long dominated by synthetic debt. A future where NBFCs serve as innovation laboratories and Islamic banks as scale partners, together building a financial system that is fast, fair, and firmly anchored in the values it claims to represent.