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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.