{"id":349,"date":"2024-01-27T11:30:31","date_gmt":"2024-01-27T11:30:31","guid":{"rendered":"http:\/\/localhost\/crescent\/?page_id=349"},"modified":"2024-07-17T11:27:39","modified_gmt":"2024-07-17T11:27:39","slug":"our-principles","status":"publish","type":"page","link":"https:\/\/crescentsacco.com\/index.php\/our-principles\/","title":{"rendered":"Our Principles"},"content":{"rendered":"\t\t
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In order to achieve its objects, the Sacco shall act in accordance with the following Co-operative and Shariah Principles.<\/strong><\/em><\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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Islamic Finance (Shariah Principles) Principles<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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Crescent Takaful Sacco is a Shariah Compliant Sacco that upholds all Shariah tenets expected of an Islamic Financial Institution (IFI) as well as Takaful values, notably:<\/span><\/p>

  • Prohibition of Interest: <\/b>No participation in interest denominated transactions (\u2018Riba\u2019)<\/strong><\/em> whether taking, receiving, or offering.<\/li>

  • Prohibition of Uncertainty: <\/b>No participation in Uncertain (\u2018Maysir\u2019)<\/strong><\/em> financial contracts.<\/p><\/li>

  • Prohibition of Speculation: <\/b>No participation in Speculative (\u2018Gharar\u2019)<\/em><\/strong> Activities.<\/li>
  • Prohibition of Unlawful Activities: <\/b>No participation in prohibited or unlawful (\u2018haram\u2019)<\/strong><\/em> activities.<\/li>
  • Upholding ethical Takaful values: <\/b>Of solidarity, mutuality, co-operation, equity, justice, transparency, accountability, integrity, fairness, impartiality, sincerity, good corporate ethics, clarity, honesty, and responsibility.<\/li><\/ul>

    Even though Crescent Takaful Sacco is a Shariah Compliant Co-operative\/Sacco, the institution is bound and subscribes to the Co-operative Principles as outlined below.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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    Co-operative Principles<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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    • Voluntary and open membership:<\/strong> The Sacco is guided by the principle of voluntary and open membership without discrimination.<\/span><\/li>
    • Democratic member control:<\/strong> The Sacco will be fully controlled by members who will have equal voting rights.<\/span><\/li>
    • Economic participation by members:<\/strong> Members shall contribute equitably to the capital of the Sacco and share in the results of its operations.<\/span><\/li>
    • Autonomy and independence:<\/strong> The Sacco shall operate on mutually acceptable terms with its stakeholders who will ensure its autonomy and independence.<\/span><\/li>
    • Education, training and information:<\/strong> The Sacco shall foster reciprocal, on-going education & welfare programmes for members, leaders, staff, and the community.<\/span><\/li>
    • Cooperation among cooperatives:<\/strong> The Sacco shall actively cooperate with other cooperatives locally, nationally, regionally, and internationally.<\/span><\/li>
    • Concern for the community in general:<\/strong> The Sacco shall show concern to the community in which it exists and operates.<\/span><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

      In order to achieve its objects, the Sacco shall act in accordance with the following Co-operative and Shariah Principles. Islamic Finance (Shariah […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-349","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/crescentsacco.com\/index.php\/wp-json\/wp\/v2\/pages\/349","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/crescentsacco.com\/index.php\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/crescentsacco.com\/index.php\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/crescentsacco.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/crescentsacco.com\/index.php\/wp-json\/wp\/v2\/comments?post=349"}],"version-history":[{"count":7,"href":"https:\/\/crescentsacco.com\/index.php\/wp-json\/wp\/v2\/pages\/349\/revisions"}],"predecessor-version":[{"id":538,"href":"https:\/\/crescentsacco.com\/index.php\/wp-json\/wp\/v2\/pages\/349\/revisions\/538"}],"wp:attachment":[{"href":"https:\/\/crescentsacco.com\/index.php\/wp-json\/wp\/v2\/media?parent=349"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}