A Shari'ah-compliant cooperative founded at SHESTCO-Abuja in 2017 by 36 pioneer members.
Al-Amanah Multipurpose Cooperative Society was established on 1 January 2017 at the Sheda Science and Technology Complex (SHESTCO), Abuja, by 36 founding members (pioneers) who recognised the need for a Shari'ah-compliant financial support system within the workplace. The founders were motivated by the desire to provide an ethical, interest-free cooperative platform that promotes mutual assistance, financial empowerment and socio-economic development in accordance with the principles of Islam.
The Society was founded to encourage a culture of savings, provide accessible interest-free financing (free from riba), and foster unity, trust and brotherhood among its members. It was established on the core values of cooperation, transparency, accountability, equity and mutual support, enabling members to meet their financial and social needs while adhering to Islamic principles.
Since its inception, Al-Amanah MCS has remained committed to improving the welfare of its members through prudent financial management, sound governance and the provision of various cooperative services — promoting economic empowerment, self-reliance and social responsibility while operating strictly in accordance with Shari'ah principles.
From its humble beginning with 36 pioneer members, the Society has continued to grow in membership, capital base and service delivery. Today, Al-Amanah MCS is a trusted and respected cooperative within SHESTCO, dedicated to enhancing the socio-economic well-being of its members while upholding the values of justice, integrity, fairness and Islamic ethics.
To be a leading model of trustworthy, Shari'ah-compliant cooperative finance in Nigeria — empowering members to achieve financial independence and prosperity through halal means.
To mobilize savings and provide interest-free financial support and halal investment opportunities to members, using ethical, Shari'ah-compliant business models that promote justice, shared prosperity, and mutual trust among all members of Al-Amanah MCS.
Honest and faithful stewardship of members' funds and resources.
Equitable treatment of all members regardless of status or contribution size.
Strict adherence to Islamic finance principles — avoidance of riba (interest), gharar (excessive uncertainty) and haram (forbidden) ventures.
Open, accountable disclosure of the Society's finances, profit-sharing ratios and investment performance.
Members supporting one another in times of need, in the spirit of Islamic brotherhood.
Consistency between the Society's stated principles and its actual business practices.
Commitment to quality and best practice in every business undertaking.
Authority flows upward from the members: the Annual General Meeting is the cooperative's highest decision-making body, electing a Management Team that runs day-to-day operations under the guidance of the Shura Committee, with the Business/Investment and Welfare Committees overseeing their respective mandates.
