Why choose Telkomlend Shari'ah for Business?

Certified Shari'ah-compliant funding

Structured using a certified Wakaalah model and approved by qualified islamic scholars, giving businesses access to funding aligned with Shari'ah principles.

Call me back→

Clear, upfront pricing

Transparent pricing is agreed upfront, with no interest (Riba) and no hidden costs.

Dedicated support

Our dedicated Funding Specialists guide you through every step of your funding journey, from application to funding.

Is your business eligible for Telkomlend - Shari'ah for Business?

To apply for Shari'ah for Business, your business should meet the following requirements.

Time in Business

Your business must be trading for at least 6 months, showing consistent trading history.

Monthly Revenue

Your business should have a monthly turnover of R50 000 or more.

How our Shari'ah for Business works

Shari'ah for Business is structured using a certified Wakaalah model, with transparent pricing agreed upfront. Once approved, you'll receive a funding offer outlining all applicable terms before deciding to proceed.

Submit your application

Complete your application and submit the required supporting documents for review.

Receive your funding offer

If your application is approved, you'll receive a funding offer outlining the agreed pricing and funding structure before you decide to proceed.

Complete your funding agreement

Payments are made according to the agreed funding terms, with transparent pricing and no interest (Riba).

What is Wakaalah?

Wakaalah is a recognised Shari'ah contract where one party appoints another to act on its behalf. Shari'ah for Business is structured using this model and has been certified by qualified Islamic Scholars to align with Shari'ah principles.

View certificate

Shari'ah-compliant business funding, made simple.

Access Shari'ah-compliant business funding from R50,000 to R5 million, certified by a committee of Islamic scholars and structured using a Wakaalah model, with transparent pricing and no interest (Riba).

Efficient funding

Once your funding agreement has been completed and all requirements have been met, your funds will be paid into your nominated business account.

Flexible terms

Choose a funding period between 3 and 12 months, subject to approval.

Specialist Shari’ah support

Dedicated Funding Specialists are available to guide you through every step of your application.

Certified by our qualified Islamic scholars

Structured using a certified Wakaalah model and approved by qualified Islamic scholars to ensure compliance with Shari'ah principles.

Call me back

Want to know a little more?

What is the Wakaalah principle?

Shari’ah for Business is structured through a Wakaalah arrangement that supports genuine commercial activity without charging interest (riba). The structure is independently reviewed and overseen by a Shari’ah Advisory Committee.

How is Shari’ah for Business different from a conventional loan?

A conventional loan involves borrowing money and repaying it with interest (riba). Shari’ah for Business works differently. GoTyme Bank appoints your business as its agent under a Wakaalah agreement and provides funding. Your business purchases Shari’ah-compliant goods and trades as part of its normal business operations. Payments are collected automatically in accordance with the Wakaalah agreement until the agreed maximum amount has been reached, at which point the agreement concludes. No interest. No riba.

Is this product only for Muslims?

No. Anyone looking for a funding solution that aligns with their values can apply. Shari’ah for Business is available to all qualifying South African businesses, provided the business operates within a Shari’ah-compliant trade or activity.

How do payments work?

Payments are collected automatically from your business sales in accordance with the agreement, by debit order, and are calculated as a percentage of your average daily or weekly card payments. This means payments move in line with your trading activity rather than following a fixed monthly instalment. Payments continue until the agreed maximum amount has been reached.

More faqs

Contact Us

Have questions or need support?

Call us

on 0861 17 17 17

Email us

telkom@gotyme.co.za

Business Hours: Monday – Friday: 8:00 – 17:00