Introduction
Takka, the pioneering Sharia-compliant consumer financing solution by ADI-Consumer Finance, a subsidiary of Abu Dhabi Islamic Bank-Egypt (ADIB-Egypt), marks its first anniversary with significant achievements. Launched in June 2023, Takka has revolutionized the Egyptian consumer lending landscape, boasting over one million app downloads and facilitating substantial financial inclusion.
Impressive Growth and Financial Impact
Since its inception, Takka has received 250,000 applications for consumer financing. During this period, the app has extended total financing limits exceeding EGP 500 million. This milestone solidifies Takka's position as a leading force in providing financial freedom to Egyptian consumers, allowing them to purchase essential products with ease.
Unique Sharia-Compliant Solution
Takka stands out as Egypt’s first Sharia-compliant consumer financing app linked to a prepaid card. Approved by the Central Bank of Egypt and the Financial Regulatory Authority in March 2023, Takka enables users to buy products and pay in installments via any electronic POS across all Egyptian stores. Its widespread acceptance among retailers reflects a pivotal shift in consumer preferences and a strong vote of confidence from merchants.
Hassle-Free Shopping Experience
Takka offers a seamless shopping experience with no administrative or card issuance fees and no down payment. The app provides flexible financing terms of up to 36 months, allowing users to manage their purchases comfortably at any store nationwide. This user-centric approach ensures that consumers can enjoy financial freedom without unnecessary hurdles.
Leadership Insights
“ADI-Consumer Finance has achieved a tangible market breakthrough, playing a definitive role in advancing ADIB-Egypt’s overarching goal of expanding financial freedom. The growth and success of Takka is the culmination of extensive teamwork and synchronized collaboration led by some of Egypt’s most experienced finance and fintech professionals. As the financial industry continues to witness groundbreaking transformations, ADI-Consumer Finance will continue to deliver on its commitment to remain at the forefront of innovation, offering digital and accessible financial solutions that cater to customers’ evolving needs.”
“The growth of our flagship product Takka is a true reflection of our commitment to financial empowerment. We're incredibly proud of the value we offer both consumers and merchants, effectively bridging a market gap by serving our customers with a smooth and secure experience. We're confident that by continuing to prioritize innovative and financially inclusive solutions, Takka’s role as a driving force in shaping the future of Egyptian consumer finance will continue to grow, reshaping the consumer lending landscape for years to come.”
Empowering Merchants
Takka empowers merchants with a suite of advantages designed to boost sales, profitability, and capital turnover rates without any risk, thanks to the innovative app’s associated card. This merchant-focused approach ensures that businesses can thrive while providing consumers with a secure and efficient financing option.
Dedicated Customer Support
Takka prioritizes customer experience with a dedicated on-ground support team operating daily across five shopping malls in Egypt. Additionally, there are over 50 card pickup points at select ADIB-Egypt branches nationwide, providing secure solutions and better service to customers.
