Taqwa Sacco is the first Shariah-compliant Sacco in Kenya, offering halal financial services since its inception in 1998. With over 12,000 members from East Africa and the diaspora, Taqwa Sacco provides ethical credit and investment opportunities in line with Islamic principles. The Sacco has an impressive asset base of Ksh 1.46 billion and caters to individuals, groups, and corporates seeking financial services free of interest (Riba).
Taqwa Sacco Membership Eligibility
Membership in Taqwa Sacco is open to all individuals globally, irrespective of gender, race, religion, or class. The Sacco primarily attracts members who prefer ethical financial services governed by Islamic principles. Key eligibility criteria include:
- All Kenyans and non-Kenyans from any location in the world.
- Individuals or entities seeking Shariah-compliant financial products without any interest charges.
Taqwa Sacco welcomes people from diverse backgrounds who value Islamic financial principles and are looking for ethical, interest-free services.
Taqwa Sacco Membership Requirements
While membership is open, prospective members need to fulfill certain requirements before joining. Here are the base requirements for individuals, groups, or corporates to be eligible for membership:
- Personal Documentation:
- Copy of National ID, Alien ID, or passport (or birth certificate for minors).
- Copy of KRA PIN certificate.
- Two colored passport-size photographs.
- Income Verification:
- For salaried members: Provide a copy of your recent payslip or letter of appointment.
- For self-employed or business members: Submit a copy of your Mpesa or bank statement.
- Membership Form:
- Complete and submit the membership application form (available from the Sacco office or their website).
- Registration Fees:
- BOSA membership registration fee: Kshs 1,000.
- FOSA account opening fee: Kshs 500.
How to Pay Registration Fees
Taqwa Sacco provides a straightforward way to pay membership registration fees via Mpesa. Follow these steps:
- Go to your Mpesa menu.
- Select Lipa na Mpesa.
- Choose Paybill.
- Enter the Business Number 275233.
- For the Account Number, enter 23*01.
- Enter the amount:
- Kshs 1,500 for BOSA with FOSA membership.
- Kshs 500 for FOSA only.
- Enter your Mpesa PIN and confirm the transaction.
- You will receive a confirmation message from Safaricom.
Benefits of Taqwa Sacco Membership
Taqwa Sacco offers numerous benefits to its members, making it a top choice for individuals seeking Shariah-compliant financial solutions:
- Access to Shariah-compliant services: Members enjoy financial services that adhere to Islamic principles, free of Riba (interest).
- Competitive dividend rates: Enjoy attractive returns on savings and investments.
- Asset financing: Members can access up to Kshs 5 million in financing for purchasing assets.
- Quick loan approvals: Loans are processed swiftly, ensuring that members can access funds when needed.
- Range of loan products: Members can access salary advances, emergency loans, school fees loans, mortgage financing, and up to 80% asset financing.
- High return investment opportunities: Members can invest in high-potential areas with strong returns.
- Zero percent interest rates: Enjoy interest-free financial services.
- Professional service: High level of professionalism and adherence to ethical financial practices.
Taqwa Sacco Contacts
For more information or assistance, you can contact Taqwa Sacco through the following details:
- Location: Ground Floor, Jamia Plaza, Kigali Street, Nairobi.
- Phone: 0702 332 211 / 0786 332 211.
Taqwa Sacco stands out as a leading financial institution in Kenya by offering ethical, interest-free financial services. Its commitment to Shariah principles has made it a trusted partner for both individuals and businesses looking to grow their wealth in a halal manner.
