Ikorodu Muslim Community Launches Savings Scheme To Promote Financial Support -

Kunle Adelabu

Imam AbdulHafeez Abojututu, Coordinator, IMCA (standing 3rd left), a chieftain of IMCA (sitting 3rd right), Fadilat Sheikh Alliy Seifudeen Ayinla Ademoritan Olowooribi, Grand Chief Imam, Ikorodu Division (sitting 2nd right), Sheikh Yahya Olorunosebi Oshoala Ajagbemokeferi (As-Samadaani), Grand Chief Imam, Oriwu Central Mosque (sitting right) and others at the launching of Savings Scheme initiative for Muslims in Ikorodu Division at the Ikorodu Central Mosque, Obun -Ale, Ikorodu.

In practical demonstration of Qur’anic dictates, the Ikorodu Muslim Community Association (IMCA), has launched a Savings Scheme initiative for Muslims in Ikorodu Division

The initiative which promotes financial empowerment, economic self-reliance, and cooperative development within the Muslim Community in Ikorodu was launched on Saturday, July 11th, at the Ikorodu Central Mosque, Obun-Ale, Ikorodu.

According to IMCA, the initiative will be Interest-Free Soft Loans to meet urgent financial needs without the burden of Riba (interest) and serves as Salary Support, which enables members to purchase essential household items on credit during difficult periods and ease financial pressure on their families.

The community also stated that Saving Schemes also afford members Target Savings Plans for Hajj, education, business, housing, and other personal or family projects.

It is emphasised that the IMCA Savings Scheme is built on Islamic values and operates with 100% Interest-Free Financing; Secure and Guaranteed Transactions; Transparency and Accountability and Discipline and Trust.

Alhaji Abdul Wasiu Omidina (FIGPCM), the pioneer Chairman, IMCA Savings Scheme, speaking with THE IMPACT on phone on Thursday on the initiative said that it was a baby of IMCA to support members of the Muslim Community in Ikorodu.

He said that the scheme is strictly for Muslims for now, but added that the bigger plan is to expand it to allow non -Muslims to also contribute and benefit from the scheme.

Alhaji Omidina, described the initiative as a practical demonstration of the Qur’anic injunction to “cooperate with one another in righteousness and piety” (Qur’an 5:2), while stressing that the scheme was established to encourage a culture of savings, provide interest-free financial support, and improve the economic well-being of members through mutual cooperation.

Interested Muslims are enjoined to join the scheme by saving into the official account below: