FUMSS Records Another Innovation Win at Fountain University Hackathon

The Fountain University Muslim Students’ Society (FUMSS) has once again recorded a notable achievement in innovation as its Muadhin, Ammar Abdulateef, emerged second at the Fountain University Halal Economy Hackathon held on Thursday as part of activities marking the institution’s 15th convocation week.

Ammar participated in the hackathon alongside Fawaz Balogun, Ikhwan Central, where they presented MISK—Essence of Fair Finance, an AI-powered, Shariah-compliant platform designed to provide ethical and inclusive financing for artisans and informal workers. The team was awarded a cash prize of ₦150,000 for their innovative solution.

Speaking at the event, the Director of the Centre for Research, Innovation and Technology (FUCRIT), Dr Rasheed Adebiyi, explained that the hackathon theme, “Innovating for the Halal Economy: Ethical, Sustainable and Inclusive Solutions for Emerging Markets,” reflects a strategic shift toward purpose-driven innovation.

“The halal economy is no longer a niche. It is a multi-trillion-dollar global ecosystem spanning finance, food, health, education, fashion, technology, and lifestyle services. This theme challenges our students not only to innovate but to do so responsibly, ensuring that profit, people, and principles coexist,” he said.

Explaining the concept behind MISK, Ammar noted that the platform replaces interest-based loans with automated Mudarabah partnerships, using blockchain technology and smart contracts to fund productive assets while guaranteeing fair and transparent profit-sharing.

“Our ‘Path to Ownership’ model ensures that workers eventually own their equipment completely. MISK bridges the gap between the halal economy and the gig economy, empowering the unbanked to grow with dignity, transparency, and zero debt,” he said.

Reflecting on his experience at the hackathon, Ammar expressed gratitude to Allah for the achievement despite personal challenges.

“All I can say is Alhamdulillah. Allah is indeed great. I came up with the idea and went straight for it. Even though I only started practicing my slides a day before the presentation, after being discharged from the school clinic while battling malaria, I am grateful for the journey. More is to come, In Sha Allah,” he said.

The achievement further underscores FUMSS’ strong culture of innovation. In the previous edition of the hackathon, the immediate former Ameer of FUMSS, Muadh Monsur, emerged as the overall winner after presenting QI-AI, an intelligent solution that gained wide recognition at the competition. His victory remains a notable highlight of FUCRIT’s flagship innovation program and reflects the society’s sustained excellence in research and technology-driven initiatives.