about

Al-Mubaarak Multipurpose Cooperative Society Limit

Al-Mubaarak Multipurpose Cooperative Society Limited is a registered Cooperative Society that aims at setting up an Islamic finance system that will enable Muslims to conduct their business affairs in Hala manner as directed by Allah (S.W.T) and His Rosul (S.A.W.).

Al-Mubaarak focuses on providing various Islamic finance products that will demonstrate the beauty of Islam and confirm Allah's generosity, fairness and mercy to mankind either rich or poor. It provides members the opportunity to earn a blessed return on investment as we adhere to the will of Allah through non-interest financial transactions.

The Society’s activities include regular thrift savings opportunity to members for the rainy days, interest-free based loan (Qardan Hassan) Asset acquisition (Murabahah), Partnership (Musharakah) among other financial products.

Objectives, Vision, and Mission

We, Members of Al-Mubaarak Multipurpose Cooperative Society Limited, Ilorin have agreed to give ourselves the provisions of this Bye-Law to regulate the affairs of the Society.

We hereby affirm our recognition that mankind is created by Allah and that every human being is a member of one family.

We also recognize the advantage of co-operation in advancing individual as well as the collective goal of mankind.

We recognize that the divine principles of economic cooperation emphasizes justice, equity, transparency and avoiding injury to mankind.

We do hereby form ourselves into a non-interest multipurpose cooperative Society in furtherance of our collective goal of economic empowerment and in total submission to Allah, our Creator.

The objectives of this Society are to promote the economic interest of members by:

  •  The provision of facilities for regular thrift savings by members.
  •  The creation of funds to be lent without charging any interest for provident or productive purposes.
  •  Any other measures designed on cooperative principles to encourage among its members the spirit and practice of thrift, mutual help and self-help.
  •  All these objects shall be carried out under all conditions after satisfying that they are considered legitimate by Allah’s injunction.

22

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Years of Experience

460

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Overall Members

6

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Executive Members

15

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Committee Members