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
A valid e-NID (Paper NID Exceptional), business license or municipality registration (where applicable), and relevant purchasing documents (bills or invoices).
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 24 months
Profit Rate
The profit margin is 15% per year (1.25% per month) on a flat rate basis.
Collateral (Title Deed and Guarantor)
The financing shall be secured through a Shariah-compliant mutual guarantee (cross-guarantee) arrangement, whereby all group members collectively act as financial guarantors and are jointly and severally liable for each other’s obligations. Also, the group must provide a financial guarantor or a gold deposit along with family guarantor as collateral (Rah’n) in full compliance with shariah principles.