Cooperative Bank of Oromia and Kifiya Financial Technologies have introduced Michu Mizan, a Sharia-compliant digital financing product designed to expand access to finance for micro, small and medium enterprises (MSMEs) and smallholder farmers in Ethiopia.

The product was officially unveiled at an event held at Sheraton Addis, bringing together government representatives, industry leaders, development partners and media representatives.

Michu Mizan combines Cooperative Bank of Oromia’s financing capacity with Kifiya’s artificial intelligence-powered risk assessment and financial infrastructure. Through the partnership, customers can also access the goods they need through HalalGebeya.

According to Kifiya, the product has already disbursed more than ETB 200 million in financing to over 4,000 businesses during its pilot phase.

The launch also featured the presentation of an endorsement from the Sharia Advisory Board, a live product demonstration and a discussion between Kifiya CEO Munir Duri and Cooperative Bank of Oromia CEO Deribie Asfaw on the development of the partnership.

The initiative aims to address financing gaps among businesses and farmers seeking financial services that comply with their religious values, while expanding access to digital and inclusive financing.