SGM BY-LAWS

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The objectives of the Society, as outlined in the by-laws, emphasize alignment with Islamic and cooperative principles. Here are the key objectives that reflect this alignment:

1.  Promotion of Economic Interest :

o  By-law 3.1.1(a) : "to promote economic interest of its members which are in accordance with Islamic and cooperative principles." This objective highlights the Society's commitment to ensuring that its activities and services are in line with Islamic values, which prioritize ethical financial practices and the welfare of the community.

2.  Encouragement of Thrift and Cooperation :

o  By-law 3.1.1(b) : "to encourage thrift, co-operations, self-help and mutual assistance among its members." This objective aligns with Islamic teachings that promote community support, mutual aid, and responsible financial behavior.

3.  Provision of Financial Services :

o  By-law 3.1.1(c) : "to provide financial services to members." The Society aims to offer financial services that comply with Islamic finance principles, avoiding interest (riba) and promoting ethical investment.

4.  Establishment of Cooperative Ventures :

o  By-law 3.1.1(d) : "to establish and operate such cooperative schemes, ventures and projects." This objective reflects the Islamic principle of cooperation and collective effort for the benefit of the community.

5.  Investment in Education and Welfare :

o  The Society is also encouraged to establish funds for the education of its members and their children, as well as to provide financial assistance in times of hardship, which aligns with the Islamic principle of supporting community welfare and education.

These objectives collectively ensure that the Society operates in a manner that is consistent with Islamic values, promoting ethical practices, community support, and economic development in accordance with cooperative principles.