How to Invest in Safaricom’s Ziidi Shariah Money Market Fund
Safaricom has expanded its investment offering to Shariah-conscious savers and ethical investors through the Ziidi Shariah Money Market Fund, a Shariah-compliant investment product available to registered M-PESA customers. The fund is managed by GulfCap Investment Bank (GCIB) and was approved by the Capital Markets Authority (CMA) as a standalone fund. It is designed for customers [...] The post…
Safaricom has introduced the Ziidi Shariah Money Market Fund, a Shariah-compliant investment option for investors who want to align their finances with Islamic principles. This fund is managed by GulfCap Investment Bank and is offered to M-PESA customers, allowing them to invest with as little as Sh100. The fund aims to preserve capital, offer liquidity, and generate returns without interest, aligning with Islamic finance principles.
Investors can manage their investments digitally through Safaricom’s M-PESA ecosystem or via USSD, and monitor their investments and earnings. Unlike the traditional Ziidi Money Market Fund, the Ziidi Shariah Fund operates independently, overseen by its own Shariah board. The fund targets all registered M-PESA users, regardless of religious beliefs, giving it a broader appeal to ethical investors.
The launch of the Ziidi Shariah Money Market Fund reflects Safaricom’s commitment to expanding mobile-based investment products and integrating savings and investment services into the M-PESA ecosystem, broadening access to Islamic finance for a diverse range of investors.
Written by urgent.news from KahawaTungu's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
