CORNICHE DIASPORA SACCO KENYA QATAR is a Savings and Credit Co-operative Society for Kenyans Living and working in Qatar. The founders of Corniche are Kenyan professionals based here in Qatar working in different organizations who came together with the sole purpose of pooling together and sharing resources
Corniche Diaspora SACCO efficiently promotes savings, credit and investment programmes amongst its members by offering its members high quality and diversified financial products and services at fair and reasonable interest rates. Get a chance to interact, network, learn and share experiences with other Diaspora Entrepreneurs.
Our common bond is Kenyans Living and working in Qatar.
Minimum Monthly contribution is Ksh 5,000. A member can invest any amount they wish to but it must be above the minimum amount.
NB: Cash payments are not accepted.
Corniche Diaspora SACCO offers five categories of loans, Normal loan, Refinance loan, School fees loan, Emergency loan and Corniche loan. Visit website for more info. www.cornichediasporasacco.com
Once a member always a member. Leaving Qatar does not affect ones membership unless:
With the approval of the committee, a member may at any time transfer shares to another member and not to any other person. Such transfers must be in writing and at nominal value. A transfer fee applies payable by the transferee.
The SACCO will pay dividends (interest on deposit and dividend on share capital) every year to all the members having deposits or share capital for the financial year ended. Deposits earn interest on pro rata basis which means you don’t have to hold dividend for a full year to earn interest. On the other hand, any balance on share capital as at close of financial year is entitled to dividend at a rate to be recommended by the management committee.
No member will be allowed to partially withdraw part of their deposits or offset part of the deposits against an outstanding loan unless one ceases to be a member.
A member can withdraw their deposit instantly however you will be charged a 10% commission of current deposit mount in lieu of withdrawal notice of 60 days.
A member cannot withdraw their deposits that have been pledged towards another member loan unless that member has cleared the loan or has submitted a guarantor to replace them.
Peace and social well-being are not only relevant to cooperatives but cooperatives are relevant to the peace making process in communities and societies throughout the world’ - Hillary Odido 2008