rafiq — “companion” in Arabic. The complete platform for running a cooperative society: members, financing, governance and every naira. No interest charged anywhere, built to recognised Islamic finance standards, and auditable line by line.
From branch cash counters and passbooks to real bank accounts, asset financing and governance — one operating ledger.
| Transaction Ref | Description / Counterparty | Facility Type | Amount | Status |
|---|---|---|---|---|
| TX-99420 | Al-Ihsan Agro Commodities Ltd Dedicated NUBAN • Inbound clearing | Asset financing | ₦1,250,000 | Settled |
| TX-99419 | Weekly savings circle #14 Automated split allocation | Thrift Pool | ₦450,000 | Settled |
| TX-99418 | Medical Hardship Relief (Member #084) Guarantor signed • ethics board review | Interest-free loan | ₦320,000 | Underwriting |
| TX-99417 | Year-end surplus share to members Batch payout to member wallets | Surplus Dividend | ₦185,400 | Distributed |
Example figures, not a real society. Balances, members and settlement entries shown here are illustrative.
Every cooperative deserves institutional-grade tooling to run itself — interest-free, transparent and audit-ready — without losing the trust it was built on.
Take cash at the counter and print a passbook with a QR code anyone can verify — for members without a smartphone. Members who bank digitally get their own NUBAN account number, and inbound transfers reconcile themselves.
Replace compounding interest loans with a cost-plus sale: the society buys the asset and resells it to the member at a margin agreed upfront. Known as Murabaha, and built to the AAOIFI standard. Cooperatives disburse funds directly to verified equipment and commodity merchants at transparent, fixed cost-plus margins agreed upfront.
Board resolutions, AGM minutes and dividend runs are sealed into a minute book that shows if anyone edits it. Your ethics board reviews each facility, and nothing is disbursed without three sign-offs.
Digital and passbook-only members, field agents, meeting cash, annual meeting minute books — the real workflows, handled.