Making Hajj Affordable

We aim at providing a Hajj financing option that is halaal and affordable.

Sharia Complaint Financial Services

We provide halaal investment and leading options to group your money and business.

About Us

HIJAZ COMMUNITY SACCO

Why Us

The following facts and challenges establish the case for our existance as a dedicated solution provider:

Major Drop in Pilgrims

In 1970s, Ugandan Pilgrims were 8,000 on average and at times reached 10,000 Pilgrims. Today only about 1,000 make the trip annually many of whom are returnee pilgrims that wish to make the trip again.

Very low Quota of Pilgrims

The Saudi government introduced the quota system to manage big numbers. Other countries are given one Pilgrim for every 1,000 Muslims (0.10% of the Muslim population), Uganda's is one Pilgrim for every 5,000 Muslims due to small numbers of intending Pilgrims.

Extremely high cost of Hajj

Today with over 6 million Muslim, Uganda has not filled its quota (0.02%= 1,200 Pilgrims). The main challenge is the extreme cost involved. On average, USD 5,000 is needed per individual, yet the quality of service is average

Absence of Hajj Financing

There are currently no Shari'ah compliant options available locally for one to seek Hajj financing. One must save on their own for every penny or sell off their property.

No Islamic Investment options

Many Muslims have enough resources to invest but are limited by either haram(non-permissible) businesses or interest based options on the market

Islamic Banking

For purposeful saving, the only banking options available are ALL riba based - leaving even the willing trapped in this dilemma

Our Happy Client's

Our clients believe in our vision and have confidence in our capacity to deliver

Sekalema Hamza

Client

I have the confidence that an Islamic SACCO that focuses on enabling affordable Hajj and opening up the doors of financial inclusion is a dream come true for me and is bound to succeed as a social enterprise.

REGULATORY FRAMEWORK

The Tier 4 Microfinance institutions and Money Lenders Act 2016, the Tier 4 Microfinance institutions and Money Lenders (Money Lenders) Regulations 2018, the Tier 4 Microfinance and Money Lenders (Finances) Regulations 2020, and the Uganda Microfinance Regulatory Authority (UMRA) Guidelines and the Finance Regulation present some level of uncertainty on the regulation for Finances in Uganda.
The current laws and regulations give clear guidelines for the Finances with a minimum core capital of not less than 10% of total assets and institutional capital of not more than Ushs 500 million, and voluntary savings of not more than Ushs. 1.5 billion to be under the regulation of the Uganda Microfinance Regulatory Authority (UMRA). Accordingly, Hijaz is regulated by UMRA.

GOVERNANCE STRUCTURE

Hijaz has a laid down governance structure spelling out the duties and responsibilities of each organ and the reporting hierarchy. The Annual General Meeting (AGM), being the supreme authority, elects the Board of Directors, the Supervisory Committee (SUPCO) and approves appointment of the external auditor.
The Board of Directors is supported by Board Committees to discharge it’s duties. The Board of Directors also appoints management to run the daily activities that help Hijaz achieve its objectives.