We strive to cater to the diverse financial needs of our users. For our Muslim users who prefer not to earn interest on their savings in accordance with Islamic principles, we offer the option to set up a halal account.
A halal account is specifically designed for Muslim individuals who wish to adhere to Islamic finance principles. In Islamic finance, earning or paying interest (riba) is prohibited. Therefore, the halal account ensures that your savings do not generate interest or involve any transactions that are not in compliance with Islamic guidelines.
If you mistakenly set up a halal account or no longer wish to have the halal feature enabled, you can easily disable it. Follow these simple steps to disable the halal feature on your Cowrywise account:
Click on your profile picture
Go to profile and toggle to Behaviour
Click on the Halal button at the bottom of the page.
Disable Halal and follow the prompts that follow
Once you have completed these steps, your account will no longer be designated as a halal account, and you will have the option to earn interest on your savings.
At Cowrywise, we understand and respect the unique financial preferences and religious beliefs of our users. The halal account feature provides a dedicated savings option for individuals who adhere to Islamic finance principles and do not wish to earn interest on their savings.