By Our Reporter
The Chairman of Taqwa Sacco Dr Ahmed Yussuf (center) and the Sacco team members
The first Savings and Credit Cooperative (Sacco) based on Islamic interest-free principles is to increase its branch network across the country to reach more Kenyans.
Taqwa Sacco is keen to entice the large unbanked population to grow its financial muscle
“By offering front office services, we are in a better position to serve the financial needs of all members with more products and services and reach the large numbers of Kenyans with limited access to financial services,” Sacco’s Board Chairman Dr. Ahmed Yussuf said.
According to Dr. Yussuf, the Sacco today does not target only members of the Muslim community but all Kenyans keen to avoid interest (usury) in financial products and transactions irrespective of their religious affiliation.
“The Sacco was initially founded to meet the needs of the Muslim Community but we have expanded beyond that to serve all Kenyans. The Sacco has rebranded as it seek to attract deposits from Kenyans,” he said.
He says the institution is focus on enhancing financial inclusion for many Kenyans who are unable to access finances to lift their living standards.
Taqwa Sacco is at the forefront of offering innovative products to reach Kenyans who have been left out of the current financial system, including those in Northern Kenya, taking advantage of government’s commitment towards creating the right legal and regulatory environment to enable Sacco’s go thrive in Kenya.
Established in 1998, Taqwa Sacco offers Shariah Compliant financial services and solutions to meet the diverse needs of its members.
The Society welcomes all who wish to safeguard their savings and access credit in an environment governed by the teachings of Islam with its membership open to all Kenyans of diverse backgrounds who prefer ethical financial services.
The Sacco has a vision of being a leading Sharia Compliant Savings & Credit Society in East and Central Africa, offering the best services and products to our members with a mission of promoting the social economic wellbeing of members through provision of quality financial products and promote fairness and trust to all members regardless of religion, race, gender or class.
Four years ago (2016), the Sacco was voted the best Shariah Compliant Sacco in Kenya during the International Islamic Microfinance Awards.
