ABOUT us
SALIH Retirement Fund is a Shari'ah Compliant Retirement Benefits Fund established within the County Pension Fund Scheme in line with Islamic Principles of commercial transaction to enable members to ethically save for their future. This retirement benefit fund embodies the essence of Islamic principles in commercial transactions, ensuring that members can save for their future in a manner aligned with ethical considerations. By adhering to Shari'ah guidelines, the fund not only offers financial security but also upholds moral integrity, fostering trust and confidence among its members. This commitment to ethical investment practices underscores the fund's dedication to promoting financial well-being while respecting religious beliefs, thus providing a holistic approach to retirement planning within the Islamic community.
The Fund has adopted good corporate governance practices and has also established a Shariah governance framework to ensure that the fund is managed in accordance with Shari'ah principles.
The SALIH Spirit
Our Core Values
We build our customers’ financial security in an ecosystem that drives social impact to the economy, society and environment.
Sustainability
Professionalism
We endeavor to work as a team to achieve the Goals and objectives we set. We are self-driven, espouse a positive attitude, and above all value trust and credibility to support each other in all initiatives
We are proactive and continually improve our offerings to respond to the current and future needs of our customers
Innovation
We are committed to providing dignity to our stakeholders across our operations and interactions
Respect
Integrity
We are committed to upholding honesty and accountability in all our endeavors with customers and stakeholders
We believe in working collaboratively to deliver our promise to our customers and stakeholders.
Teamwork
Shari'ah principles
Shariah principles, also known as Islamic principles or Islamic law, are derived from the Quran, the Hadith and interpretations by Islamic scholars. These principles serve as guidelines for Muslims in various aspects of life, including finance and commerce.
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Some key Shariah financial principles that govern how we manage our scheme include:
Access exclusive privileges, including discounted rates on goods and services for retirees' needs, financial planning resources, and preferential registration for workshops and events.
Prohibition of Riba
(Interest)
Shariah strictly prohibits the charging or paying of interest (riba). Instead, transactions should be based on profit and risk-sharing.
Access exclusive privileges, including discounted rates on goods and services for retirees' needs, financial planning resources, and preferential registration for workshops and events.
Prohibition of Gharar
(Uncertainty)
Shariah discourages transactions involving excessive uncertainty or ambiguity (gharar). We make sure that our business engagements clear and transparent to all parties involved.
Access exclusive privileges, including discounted rates on goods and services for retirees' needs, financial planning resources, and preferential registration for workshops and events.
Prohibition of Maysir
(Gambling)
Shariah prohibits engaging in gambling or speculative activities (maysir). Our investments are based on legitimate business activities and not on chance.
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Adherence to Halal
(Permissible) Investments
Our scheme is Shariah-compliant which means that all our businesses are in line with Islamic principles, avoiding industries such as alcohol, gambling, pork, and other activities considered Haram (forbidden).
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Ethical and Social Responsibility
Shariah encourages ethical conduct and social responsibility in business dealings. Investments should not harm society or the environment.
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Asset
Backing
Shariah-compliant financial products should be backed by tangible assets or services, ensuring transparency and avoiding speculative practices.
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Contracts and
Agreements
Contracts in Shariah-compliant transactions should be entered into willingly by all parties, without coercion or exploitation.
Access exclusive privileges, including discounted rates on goods and services for retirees' needs, financial planning resources, and preferential registration for workshops and events.
Compliance with Shariah Governance
Shariah-compliant financial institutions adhere to Shariah governance principles, which include appointing Shariah advisors to ensure that products and transactions comply with Islamic law.
These principles form the foundation of Shariah-compliant finance and guide the development of our products and services that align with Islamic values and beliefs.
FUND GOVERNANCE STRUCTURE
The governance framework involves the coordination of various service providers to ensure adherence to Shariah principles and regulatory standards.
Corporate
Trustees
At the helm of the governance structure is the Board of Trustees, responsible for overseeing the operations and compliance of the fund. Comprising the Salih Advisory Committee whose vast expertise in Islamic finance, investment management, and legal affairs ensures that all decisions align with Shariah guidelines and the objectives of the Salih Scheme.
Co-Op Trust serves as the Fund Manager, entrusted with the management of the fund's investment activities. They are responsible for implementing investment strategies that comply with Shariah principles while maximizing returns for investors.
CPF serves as the administrator of the sub-fund. CPF's involvement strengthens the fund's relationship with our stakeholders, fostering transparency and accountability in our operations.
Equity Bank assumes the role of Custodian, safeguarding the fund's assets and ensuring proper custody and safekeeping of securities in accordance with regulatory requirements. Their oversight helps maintain the integrity of the fund's holdings and protects investors' interests.
Our investment portfolio is strategically diversified across various asset classes to optimize returns while managing risks effectively. Comprising equities, fixed-income securities, real estate, and alternative investments, the fund's allocation reflects a balanced approach tailored to prevailing market conditions and long-term objectives. Investment decisions are meticulously made through a collaborative process involving expert analysis and comprehensive risk assessment.
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The fund's management team employs a combination of fundamental research, market intelligence, and financial modeling to identify opportunities and mitigate potential vulnerabilities. Factors such as economic indicators, industry trends, and regulatory considerations are carefully evaluated to ensure alignment with the fund's investment mandate and risk tolerance. By adhering to Shariah-compliant investment principles and staying attuned to market dynamics, our Fund strives to achieve sustainable growth and deliver value to our stakeholders.
About SALIH Retirement Fund
