What is an Akafay loan?

An Akafay Loan is a digital financing solution offered through the app allowing customers to purchase goods or services immediately and repay the amount in installments. The loan is provided by a partner bank, with Akafay acting as the technology facilitator, managing the platform, customer verification, and repayment tracking.

What You Get

  1. Easy Access to Credit
    • Choose Akafay when making a purchase to use the Buy Now, Pay Later (BNPL) option.
    • If approved, you receive a clear repayment plan with the total amount and installments.
    • The bank buys the item for you, and you repay it over time through Akafay’s secure platform.
  2. Affordable Payments
    • The loan is structured to make repayments manageable, often in interest-free installments.
    • For Shariah-compliant loans, the total cost includes a pre-agreed profit margin, fully disclosed upfront.
    • Late payments may incur a small administrative fee only to cover actual costs.
  3. Digital Security & Transparency
    • Akafay uses advanced AI to assess creditworthiness and ensure responsible lending.
    • Every transaction is recorded on the Cardano blockchain, guaranteeing security, transparency, and proof that your loan is compliant with Shariah principles where applicable.
  4. Support & Guidance
    • The AGAZ AI Financial Copilot provides personal finance insights, budgeting tips, and repayment guidance to help you manage your money responsibly.
    • Akafay tracks your repayments and ensures you have clear visibility of your balance, upcoming payments, and any fees.

Why Use an Akafay Loan?

  • Get what you need now: Buy essentials or larger items without waiting to save the full amount.
  • Manageable payments: Pay in installments that fit your budget.
  • Safe and secure: Your data and transactions are protected with advanced security technology.
  • Transparent and ethical: Clear terms, no hidden fees, and Shariah-compliant options available.
  • Financial guidance: Tools to help you plan, budget, and make smarter financial decisions.

Your Responsibilities

  • Make repayments on time to avoid late fees.
  • Keep your contact information up-to-date to receive payment reminders and updates.
  • Use the loan responsibly and according to the terms provided in your agreement.