NAIROBI, Kenya- Safaricom Investment Co-operative (SIC) is taking significant steps to align its investment strategies with Islamic principles, as it works to become fully Sharia-compliant.
This strategic shift is aimed at expanding its customer base and tapping into the growing demand for ethical investment options within the Muslim community.
In a bid to deepen its relationship with the Islamic community, SIC recently hosted an investment forum at BBS Mall in Eastleigh.
The event attracted key figures, including Mohammed Adan, CEO of the Eastleigh Business Community Association, and other Muslim business leaders.
The forum served as a platform for SIC to engage directly with the Muslim community, highlighting the company’s ongoing efforts to provide Sharia-compliant investment opportunities.
“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 SIC CEO, Churchill Winstones.
By building trust and aligning its products with Sharia law, SIC hopes to attract more investors from the Muslim population.
Founded in 2009, SIC has established itself as a key player in Kenya’s investment sector, offering a wide range of opportunities, including real estate, marketable securities, and private equity.
The co-operative currently boasts a membership of over 5,000, both locally and abroad, with a portfolio that spans land, housing, and business development.
To date, SIC has completed more than 100 land projects across 14 counties, with housing developments in Nairobi, Kiambu, Machakos, and Kajiado.
Now, SIC is expanding its offerings to ensure all of its operations adhere to Sharia principles, which prohibit investments in industries like alcohol, gambling, and interest-based lending.
This move not only positions SIC competitively in a crowded market but also caters to the increasing number of Muslims seeking ethical investment avenues that align with their faith.
As competition heats up in the investment sector, SIC’s shift toward full Sharia compliance marks a pivotal moment in its evolution.
The co-operative is keen on offering Sharia-compliant investment products that align with its mission to create socio-economic value for its members while ensuring ethical business practices.
SIC’s commitment to Sharia law reflects broader trends in the financial industry, as more companies recognize the demand for Islamic finance solutions.
