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Niger Mutual Halaal Plan NIGER MUTUAL HALAAL PLAN This is a savings and investment programme designed for muslims and other interested parties in Nigeria. The plan is based on Islamic profit sharing and reciprocal guarantee principle of AI- TAKAFUL. Under this plan you can save regularly for a fixed period that is convenient for you. The accumulated targeted amount can be used to fund your obligations such as purchase of land or house, marriage, hajj etc. It could also be used to meet other long-term financial objectives such as retirement, self and children's education, travelling expenses, as well as unexpected commitments. The plan also entitles your heir(s) to a sum of money as a mutual financial assistance payable upon your death during the period. THE ESSENTIAL FEATURES OF THE PLAN
WHO CAN PARTICIPATE All muslims and other interested parties within the ages of 18 and above.
HOW THE PLAN WORKS The instalment paid by the participants is credited to a special fund which is segmented into two accounts, namely; the Participants Accounts (PA) and the Participants Special Accounts (PSA). A substantial portion of the installment is credited to the PA for the purpose of savings and investment. The balance is credited to PSA purposely to the heir(s) of participants who may die before the maturity date. |
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