Shariah Compliant products

Yasar Finance

YASAR MEMBERSHIP

Yasar Membership (Shariah Compliant) is open to all Kenyans 18 years and above who reside both locally and in the diaspora. Eligible members are required to:

  • Complete Shariah membership application form
  • Attach Copy of National Identity card/ valid East African/ Kenyan Passport,
  • Recent colored passport Photo,
  • Copy of KRA PIN Certificate.

Payments include; Registration Fee- 500/-; Minimum Yasar Share capital 25,000/-; and Minimum monthly Yasar Mudarabah alpha deposit contribution 1,000/- Kenya shillings.

Financing eligibility after 3 months.

SAVINGS PRODUCTS

Islamic Principles

Musharakah Sukuk

Account Features
1. The nominal value of each share shall be Kshs.500/= and every member shall hold at least one share in the Society
2. The current Minimum amount is Kshs 25,000/- for an individual member
3. Shares can be transferred to another member
4. Share transfer fee paid by the buyer
5. Profits paid according to the Shariah compliant business

Documentation

1.Membership Application Form

2.Sukuk Certificate

FINANCE PRODUCTS

This will enable our members access facility to purchase tangible items such as: Auto Finance (includes Motor Vehicles Accessories and Spare parts) Plot Finance, Personal Finance for various assets, Stock/ Working Capital Finance, Asset Finance, Building materials, Farm equipment & inputs among other tangible assets. Facility shall be given to individuals who have been members of the Sacco for at least three (3) months. The Sacco shall include its mark-up on the facility based on the CBR rate plus a margin of 4.0%.

KYC documents
• Copy of ID and PIN
• Financing agreement application form
• Master murabaha financing agreement
• Agency agreement
• Purchase requisition
• Confirmation of goods purchased
• Offer to purchase
• Sacco’s acceptance

Product Features
• Maximum period of 60 months.
• 100% financing.
• Pricing- 13.5% Profit margin (Contract T&C applies)
• All acceptable securities – (Guarantors and assets)
• Up to 4 times Yasar Investment.
• Subject to ability to repay.

Letter of offer
• Proof of income sources- employment/ business.

MEMBERSHIP REGISTRATION REQUIREMENTS

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FREQUENTLY ASKED QUESTIONS

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Individual membership application

Membership Registration Documents required

1. Complete membership application form and attach:
2. Copy of National Identity card/Passport.
3. Recent Photo.
4. Copy of KRA PIN Certificate.

Interested in joining Stima Sacco? Fill in the form below and one of our representatives will reach out to you

Joint membership application

To join the Sacco one needs to;

  1. Complete Membership Application Form 
  2. Attach copy of Kenyan National Identity Card or Valid Kenyan Passport for both applicants.
  3. Attach coloured passport size photograph for both applicants.
  4. Copy of KRA PIN Numbers

Interested in joining Stima Sacco? Fill in the form below and one of our representatives will reach out to you

Group membership application

This includes;Chamas, Self-help Groups etc of atleast 4 members. To join the Sacco one needs to;

1. Complete corporate membership application form and attach:
2. Photocopy of registration certificate.
3. Minutes of the group’s meeting resolving to join Stima Sacco.
4. Constitution of the group.
5. Copies of National identification cards, KRA PIN, and photos of authorized signatories.
6. List of group members.

Interested in joining Stima Sacco? Fill in the form below and one of our representatives will reach out to you

Corporate membership application

To join the sacco as a corporate, you will need:

1.Complete Corporate Membership application form and attach:
2. Directors’ resolution to open the account.
3. Copy of certificate of incorporation.
4. ID/passport copies, and photos of signatories.
5. Memorandum and Articles of association.
6. Photocopy of KRA Corporate PIN Certificate.

Interested in joining Stima Sacco? Fill in the form below and one of our representatives will reach out to you