Group Salam Agreement (GSA)
Name and purpose of the product:
GSA is a Shariah-compliant financing product specifically structured to support agriculture and livestock-related income-generating activities, ensuring all operations adhere to Islamic principles
Gender
Male and Female
Location
Rural and Urban
Purpose
GSA is a Shariah-compliant financing product specifically structured to support agriculture and livestock-related income-generating activities, ensuring all operations adhere to Islamic principles
Target Businesses
All types of agricultural and livestock activities that generate seasonal income (SIGA) or regular income (RIGA) through legally established, Shariah-compliant businesses. All operations and agreements under this framework strictly adhere to Islamic principles and applicable laws, ensuring transparency, fairness, and protection of rights for all parties involved.
Documents Required
Shariah-compliant financing for agricultural and livestock activities (SIGA/RIGA). Financing above AFN 100,000 requires eNID, purchase bills, and a valid Business License. All operations follow Islamic principles and applicable laws.
Age
18-65
Members
2-4 (Either same residential areas or business’ locations)
Financing Amount
5,000 to 100,000
Financing Currency
AFN
Financing term
6 to 18 months
Service Charge/Profit
1.25% Flat/Month
Collateral (Title Deed and Guarantor)
All group members provide a cross-guarantee, while the group leader holds sole
responsibility for repayment. Each member must also provide:
1. A family guarantor (family member)
2. A financial/business guarantor
3. Collateral: either a title deed or a gold-deposit guarantee
All guarantees and procedures comply with Islamic principles and applicable laws.