Key Takeaways
- • Safaricom and Gulfcap Investment Bank (GCIB) have launched the Ziidi Shari'ah Money Market Fund, a regulated investment product accessible through M-Pesa.
- • Investors can start with KES100 and add as little as KES10 at a time.
- • Withdrawals go directly to mobile wallets with no withdrawal charges.
Summary
Kenyan telecommunications provider Safaricom and Gulfcap Investment Bank (GCIB) have launched the Ziidi Shari'ah Money Market Fund, a regulated investment product distributed through M-Pesa, Safaricom's mobile money platform. The fund is designed to be Shari'ah-compliant, giving Islamic-finance investors a money market option within the M-Pesa ecosystem.
The minimum entry point is KES100, and subsequent contributions can be as small as KES10, lowering the barrier to entry for retail savers. Investors can withdraw their funds to their mobile wallets without charges.
The minimum entry point is KES100, and subsequent contributions can be as small as KES10, lowering the barrier to entry for retail savers. Investors can withdraw their funds to their mobile wallets without charges.
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