OBJECTIVES OF THE SOCIETY
The overall goal of the Society is to promote the socio-economic and welfare interests of its members and its specific objectives include:
1. To help its members in obtaining and maintaining housing facilities for
themselves and their family;
2. To enter into occupancy agreement with its members upon such terms as it
may deem necessary;
3. To stock consumer goods using Islamic finance system principles for
distribution to members at fair and reasonable prices;
4. To acquire acres of land for sale, lease or estate development to meet
the housing needs of members for residential purposes as a form of
investment for the economic benefit of members and other interested
parties;
5. To undertake and invest in new ventures beneficial to its members and
the Society as approved by the Board of Directors. These include Projects
or Business Financing after Feasibility Studies;
6. To become a member of or collaborate with any association or corporation
having objectives altogether or in part similar to those of the
co-operative, or carrying on any business activity capable of being
conducted so as to directly or indirectly benefit the co-operative;
7. Investing co-operative funds into any Islamic finance activities such
as, Islamic capital market, Islamic Banking, Islamic Insurance (Takaful).
8. To seek finances for residential, commercial or industrial housing
development from international donors, the cooperative circle and other
Interest- free Financial Institutions;
9. To do anything within the law and enter into any transaction which in
the Society’s opinion is necessary to ensure the proper performance of its
functions or the attainment of the above listed objectives;
10. To take measures that would promote among the members, the spirit of
thrift, mutual-help and self-help based on Islamic finance principles.