Halal Principles
Sharia-compliant by design, not by afterthought
Halal compliance isn't a marketing label at AL-HALAL — it's enforced in how our systems are built. Here is exactly what that means for you as a member.
No Interest (Riba)
Interest — riba — is strictly prohibited. Our loan structure has no interest field and no interest calculation anywhere in the system. What you borrow is what you repay.
Transparent Pricing (Murabaha)
When you request goods through the cooperative, the price and the profit we add is disclosed to you explicitly, item by item, before you ever accept — never hidden in a bundled price.
Interest-Free Lending (Qard Hasan)
Our loans are Qard Hasan — a benevolent, interest-free loan given for the sake of Allah. You repay only the principal; no premium is charged, and no penalty is added for late payment beyond a restriction on further borrowing.
Community Governance
The cooperative is member-owned. Financial decisions pass through multiple elected officers — never a single individual — supporting human decision-making rather than replacing it.
No Exploitation
Every feature is reviewed for Islamic financial compliance before launch. If a feature cannot be made halal-compliant, it does not ship.
Honest Dealing
Fees, margins, and charges are shown before you confirm any transaction. What you see is exactly what you pay — no surprises after the fact.
Glossary
Islamic finance terms, explained simply
Not everyone is familiar with these Arabic terms, so every page on this site leads with a plain-English explanation first. Here, we've also included a Yoruba gloss where one helps.
| Riba(Yoruba: Èlé) | Interest or usury — strictly prohibited in Islam. AL-HALAL charges zero interest on all products. |
| Qard Hasan(Yoruba: Awin Rere) | A benevolent, interest-free loan given for the sake of Allah. The principal is repaid; no premium is added — in Yoruba, an "awin rere" (good loan) given without èlé (interest). |
| Murabaha(Yoruba: Títà Pẹ̀lú Èrè Payá) | A cost-plus sale — the cooperative purchases goods and resells them to the member at a disclosed markup, paid instantly or on credit. In Yoruba: títà pẹ̀lú èrè payá — a sale with the profit stated clearly upfront. |
| Halal | Permissible under Islamic law — applied here to every financial product and process we offer. |