EXPERIENCE REAL FINANCIAL FREEDOM AND MANAGE YOUR CO-OPERATIVE

Vision

Solid Core envisions a dynamic and ever-expanding interest-free cooperative logic that will grow and develop into the establishment of interest-free financial institution that could stand tall and in services of members monetary needs and financial transactions

About Us

Solid Core is an Investment and Digital Services Company that gives you wide range of facilities, utilities and services that consists your basic daily needs at your fingertips

Mission

Solid Core has a mission to develop, practice and propagate interest-free style of cooperative society so as to rid the society of usury-based (interest Free) transactions, provide their stead, interest-free loans and Halaal (lawful) businesses

Contribution in savings

Contributing to savings is crucial for your financial future, Regular contributions, even small amounts, help build a safety net, achieve long-term goals like buying a home or funding retirement, and provide peace of mind for unexpected life events

Business in ratio 60%: 40%

This business has two partners with ownership stakes of 60% and 40%

Loan facilities at no interest

Loan facilities at no interest, also known as interest-free loans or grants, provide financial assistance without requiring borrowers to repay any additional charges

Facilities and Utilities on Interest Free

Facilities and utilities on interest-free terms are provided without charging interest on their usage, often aligning with Interest free financial principles or social welfare programs

Invest resources on only Halaal (lawful) businesses

This investment strategy focuses solely on supporting businesses that adhere to interest free principles (Halal), prioritizing ethical and religious considerations in resource allocation

Businesses on interest-free based transactions operate without charging or incurring interest on financial dealings, aligning with interest free financial principles

Businesses on interest free based Transactions

Problems

Most Cooperative societies have been operating manually in Nigeria, a fact which in most cases, resulted in the societies losing about 50% of their investment due to lack of transparency, accountability and mismanagement of funds are the usual problems encountered by such societies, In most cases, contributors do not have access or ability to manage their assets at their convenience or make request without much stress and delays,

Solutions

Solid Core has come with a Digital Cooperative Management System (CMS), It is an organised system with a prime objective of improving services digitally and a model designed to maintain seamless transactions and a wide range of facilities, utilities and home service delivery,

Core Operation

• Contribution in savings

Business in ratio 60%: 40%

• Loan facilities at no interest

• Invest resources on only Halaal businesses

• Businesses on interest free based Transactions

• Facilities and Utilities on interest Free

Lifecycle

Circulation system and Advisory example with the lowest salary earner

Digital Chain Circulation System

• Saving

• Investment

Monthly Contribution

• Recovery plan

• Monthly Payment

Services

Mudarabah

Mudarabah (sleeping partnership) refers to a contract made by two (2) parties involved in a business venture. The parties here are: A Rabbul mal- Solid Core who solely provide the capital- and a Mudarib- an entrepreneur preferably a Solid Core member whose skills and integrity have been proven by the Business Committee and ratified by the Executive Board – solely manages the business

Murabahah

Murabahah (cost plus sales) is a type of contract, which is considered as a form of sale, where Solid Core expressly mentions the costs of the sold commodity it has incurred, and sells it to members and non- members alike by adding some profit or mark-up thereon

Musharakah (active partnership) refers to a partnership arrangement between two parties or more (in which Solid Core is a partner) to finance a business venture whereby both parties contribute capital either in the form of cash or in-kind for thee of financing the business venture

Mushakarah

Istinaa'

Istinaa’ (manufacturing businesses) is an order or request to manufacture or construct something, whereby the requestor invited, induced or caused another to make or manufacture goods for him

Qard

Qard (Loans) in Sharia is a form of mutual assistance among members, in which a member is entitled to triple of his/her savings, and is interest-free. Other Shari’ah compliant financial products, like the Salam (forward sales), Sukuk (securities) etc are also applicable in Solid Core

Why Us?

It is very crucial in these modern times where contributors and the beneficiaries will have control over their assets as well as promoting transparency while giving them assurance that their funds are safe and invested properly and are at their disposal within the comfort of their phones/devices in their hands.

Solid Core ensure to provide the tremendous benefits listed below:

• Annual dividends

• Interest-free loans

• Fund security and availability

• Liquidation of members’ debts in other banks (optional)

• Access to account on the go

• Access to stores on the go

• Access to pharmacy on the go

• Access to online and physical customer care