Product Definition and Introduction:
- Joint product of Crescent Investment Co-operative (CIS) and CTS.
- A savings and investment vehicle for prospective housing owners.
Pools members’ savings to originate community-based real estate projects.
Functions:
- Pooling seed capital for real estate deals.
- Off-take financing for individual micro-mortgages.
Sources of Funds:
Minimum monthly contributions of Kes. 25,000 for 36 months.
Target from Kes. 500,000 – Kes. 1,000,000 per member.
- Minimum membership of 1,000 members.
Minimum capital of Kes. 10,000 per member.
Legal Status:
Product-level fund under CTS, leveraging existing cooperative regulations.
Incentives for Savings:
Advanced investment opportunities.
Structured methodology for decent and affordable housing.
Terms and Conditions:
Minimum contribution period of one year.
- Internal or external off-take financing subject to fund availability.
Participants enjoy pricing discounts on the final product.
Shariah Considerations:
- Which Shariah-Contracts are best deployed in pooling community funds?
Managing funds, rewarding management, and ensuring a fair return to investors?
At Crescent Takaful SACCO, we are dedicated to fostering financial well-being through ethical and Shariah-compliant practices.
Join us on this journey to empower communities and build a prosperous future together.