Muslims asked to form Sharia compliant Sacco


Feb 22, 2017

By Amoto Dennis
Meru Governor Peter Munya
has urged members
of the Muslims community
in the county to form a Sharia
Compliant Savings and Credit Cooperative
society (Sacco) to enhance
savings and create wealth.
‘’Since Muslims make a large
and significant number in the
county it is high time they pulled
resources to form a powerful Sharia
compliant Sacco,’’ said the governor.
He said the county is willing
to offer seed capital to kick-start the
formation of the society, adding that
such a Sacco will enable members
to invest in the county.
Speaking to Somali Miraa traders
in Mutuati area recently, Munya
urged them to embrace the Sacco
spirit for further economic and social
growth, noting that as much
Somalis are great business people
they are conspicuously missing out
in the Co-op movement. He said
there was urgent need to rope in Somalis
into Sacco leadership.
“After forming Sharia compliant
Miraa, members should make
monthly contribution over a period
of time and make monthly contributions
in share purchase before
accessing loans,’ he said. The
Governor said since Saccos were
major drivers of development, the
community should cash on them to
grow and boost their welfare.

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