This account aims to urge or motivate well-off individuals to contribute,along with the association,to easing some of the social problems and burdens, which loan seekers suffer from such as housing problems,marriage expenses,medical treatment and children's school fees,by their financial contributions at the association.
The participation account aims to consolidate the ties among the association and loan seekers,urge the loan seeker to save money even in little amount,and encourage them to contribute to the process of lending others.
The loan applicant mortgages an amount of gold that exceeds the value of the requested loan, with a maximum value of 6000$, which is repaid into equal, monthly and periodic payments where the maximum payment period is 36 months and the first payment is 1 month after receiving the loan.
A contributor or a participant sponsors a loan seeker with an amount not exceeding the financial contribution. The loan is paid over a duration not exceeding 60 months in equal, monthly and straight installments.The repayment of the loan is due one month after receiving the loan.
The Association encourages closely related people ( relatives, neighbors, colleagues, etc... ) to establish jointly a social cooperation fund, through which they can get easily-repaid loans,in support of and for consolidating the concept of solidarity and co-operation among them.
THE MEMBERS BELONG TO OR LIVE IN THE SAME TOWN , VILLAGE OR NEIGHBORHOOD , VARYING IN NUMBERS FROM 20 TO 70 PARTICIPANTS.THE LOWEST AMOUNT OF MONTHLY PARTICIPATION IS 10$ WHEREAS THE MAXIMUM AMOUNT OF THE LOAN IS FIVE TIMES THE PARTICIPATION ACCOUNT.
The members are employees in the same association or a group of different ones,where the number of members- participants varies from 7 to 50 ; the lowest amount of participation is 10$, and the maximum loan amount is 5 times the participation amount balance.
THE ASSOCIATION URGES OTHER ASSOCIATIONS AND INSTITUTIONS TO ESTABLISH THEIR OWN SOLIDARITY AND SPONSORSHIP FUNDS, FOR THE SAKE OF THEIR EMPLOYEES OR THE BENEFICIARIES FOR LIFETIME, AND SUPPORTS THESE FUNDS FINANCIALLY WITH SPECIFICIED AMOUNTS OF MONEY ACCORDING TO THE NUMBER OF PARTICIPANTS, THEIR BALANCE AMOUNTS AND THE DATE SINCE THESE FUNDS WERE ESTABLISHED.