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By Phyllis KONRAD
In a major step towards Sharia compliance, Safaricom Investment Co-operative (SIC) has ramped up its efforts to align its investment strategies with Islamic principles.
During an investment and networking forum at the BBS Mall in Eastleigh, SIC engaged key Muslim business leaders, including Eastleigh Business Community Association CEO Mohammed Adan, to discuss its journey towards Sharia-compliant investments and strengthen its ties with the Muslim community.
The forum emphasized SIC’s focus on delivering transparent and sustainable investment opportunities that comply with Sharia law, reflecting its commitment to catering to the financial needs of the Islamic community and fostering deeper collaboration.
“We deeply appreciate the support of the Islamic leaders and business stakeholders for honouring our invitation. Your trust fuels our mission to deliver competitive, Sharia-compliant products that help transform the socio-economic lives of our investors,” said Safaricom Investment Co-operative Chief Executive Officer, Churchill Winstones.
Since its establishment in 2009, SIC has strived to empower its investors through offering investment opportunities in real estate, marketable securities and private equity. With over 5,000 members both in Kenya and the diaspora, the society is committed to expanding its portfolio while maintaining ethical and responsible investment practices. As part of these expansion efforts, the society is embarking on a journey to become fully Sharia-compliant.
“This year, we set out to align our operations with Sharia law, and today’s event is a reflection of that commitment. We always aim to ensure that all our products and services meet the highest ethical standards and are tailored to meet the requirements of Islamic finance,” the CEO said.
Safaricom Investment Co-operative’s portfolio spans four business units: land, housing, business development, and value-added services. Over the past 15 years, the Society has undertaken more than 100 land projects across 14 counties, including Nairobi, Kisumu and Kajiado. Additionally, SIC is also making significant strides in the housing sector with seven projects in Nairobi, Kiambu, Machakos, and Kajiado counties.
As the Society looks towards the future, SIC remains dedicated to empowering communities through sustainable investments, providing value-driven solutions, and embracing technology to enhance its offerings.