Principles of Operations

  • Contributions in Savings & Business are in Ratio 60% : 40%
  • Loan facilities at no Interest
  • Invest resources on only Halaal businesses
  • Businesses on Riba Free based Transactions
  • Facilities are of First come First served

The Crescent Multipurpose Cooperative Society was established in the year 2011. The operations are soley based on halaal transactions. The membership is growing progressively. Following are the aims of the Cooperative.

- Liberate Members from the agony of interest-based cooperative Societies.

- Assist members to be economically and financially self-dependent.

- Empower all members to be self-sufficient.

- Practice principles of cooperation as established in Islamic shari’ah.

- Search for, engage in, and encourage members to partake in lawful, non-interest based, viable businesses and transactions.

Empower MembersTo be Self-Sufficient
Non-Interest BasedTransactions

Cooperating for Good and Righteousness

The Crescent Multipurpose Cooperative Society (CMCS) has a mission to rid the society of usury-based (Riba) transactions, and provide in their stead, interest-free loans and Halaal(lawful) business options for members and customers as requested by the Islamic faith in Shaa Allah.

Most of the Cooperative activities can be achieved online through CMCS portal( Thereby ensuring accountability and transparency. The primary activities of the cooperative are loans and welfare as well as business and investments.

Benefits To Members

  • Dividends after Annual General Meeting(AGM).
  • Interest-free Loans.
  • Prompt and efficient services.
  • Halal and ethical business and Investments.
  • Fund security and Availability.
  • Members can access their accounts online.
  • Dedicated staff to meet customers' needs.

Our Mission

The mission of this society is mainly to develop, practice and propagate Islamic worldview of co-operative society so as to rid the society of Riba (Interest) based transactions, and provide in their stead, interest–free and Halaal (lawful) business options for Members. Insha-Allah

Our Vision

The Society envisions an outstanding and ever expanding Islamic co-operative Society that will grow and develop into the establishment of Islamic financial institutions that could stand tall in services of Members’ monetary needs and financial transactions. Insha-Allah.


CMCS Membership is open to all who share same view as contained in the Vision, Mission, Values as well as the Aims and Objectives of the society. Membership Application form is based online with a token of N2,000 naira.


Executive Council & Standing Committees

Shura (Advisory) Committee

The Shura have a 3-year tenure. They nominate members that form the EXCO for the AGM to ratify. They serve as advisory organ to the EXCO. Membership are of those with sound Islamic Knowledge.

Welfare & Loans Committee(WLC)

This commitee handles welfare matters of the members as well as does the processing of the Qard Hasana (Non-Interest Loan) requests from members. They have the same tenure as the EXCO.

Property Development Committee

The PDC shall handle all property development issues for members.The committee is visioned to acquire, develop and redevelop high quality standard properties for commercial purposes in line with Islamic principles.

Executive Council (EXCO)

CMCS is run by EXCO who have a two-year tenure.The EXCO is ably assisted by the standing committees'membership membership of which consists of people who have good understanding of the fundamental principles of which the cooperative was established and are known for practicing same.

Business Committee(BC)

This BC is the investment arm of the cooperative. It handles the processing of all business transactions and is in charge of the management of the mini-mart operated by the cooperative. They have same tenure as the Eexecutive Council (EXCO).

Membership of the Cooperative/ Discipline

Qard Hasana (Non-Interest Loans)

Business and Investment

Requirement for Facility/ Guarantors

  • All Loans and Business transactions must have guarantors whoare members of the cooperative and these guarantors would be fully responsibile in case of default.

  • Guarantors shall not be allowed to take substantial loan untill and after the person they stool surety for has paid back at least twenty percent(20%) of the amount collected.

  • To qualify for loan, the intending borrower must present a guarantor that must be active and consistent members of the Cooperative with at least half the amount he is standing surety for in his/her savings account with the Society.


App paymentsto the cooperative accounts must be to the underlisted accounts. Such payments must be entered online via the cooperative portal. or send an email to the CMCS e-mail address by the payeefor the avoidance of doubts.

  • Operations Account: 0002924465 - Jaiz Bank.

  • Investment Account: 0000073280 - Jaiz Bank.

Contact Info

C/o NIGCOMSAT Limited, Obasanjo Space Centre,Airport Road, Lugbe. PMB 647, Garki, Abuja, Nigeria.



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