Established on June 2014, Rays Microfinance Institution S.C. was an inception of few individuals that had a deep-rooted desire to contribute to and play a role towards mitigating the vulnerability and poverty of low-income people country in general and in Somali Region in particular. They had a well-developed experience in the areas of business and developmental endeavours, and have good understanding about the contribution and the role of access to finance in mitigate the vulnerability and poverty of low-income people. Thus, they shared their idea to like-minded fellows that gained remarkable acceptance, which in turn led to the establishment of Rays Microfinance Institution S.C.
Our objective is to provide appropriate and modern financial services backed with modern technology to the rural and urban community.
Our mission is to improve the livelihood of the community by providing accessible, convenient, and appropriate financial services.
Our vision is to become a leading financial service provider in Ethiopia
Murabaha for financing goods, machineries, equipments and livestock trade. We use Salam for financing farming activities, manufacturing etc. We use Istisna for financing agriculture, construction, small industries, machineries, etc.We use Ijara to finance non-consumable assets.
Salam is a forward sale contract wherein out customer undertakes to deliver certain goods on a future date in return for the full price paid in advance.
Ijara means leasing. it is a transfer of usufruct of usable but non-consumable assets in exchange of rent.
we use ijara to finance non-consumable assets.
Kirkos Sub-city, Around Wollo-Sefer, next to Medco Bio Medical College, Fetle Building, 5th Floor
P.O.Box: 497, Code 1110
Addis Ababa, Ethiopia