Sarokar Co-operative

Dear all
Peace & blessings of Alimighty be upon you all
First of all I would like to take this opportunity to extend my sincerest thanks and gratitude to my founder members, shareholders, Board of Directors, Co-ordinators and Members of different committees and sub-commitees, staff members and valued customers for their precious supports and assistance in Sarokar’s co-operative journey.

During the last short tenure we were able to make notable accomplishment as we launched many innovative banking products and services like differeny deposite schemes, loan services and remittance and other services are our most successful steps.
And during this short period our network and working area has been extended to six more Village Development Committees (Basantapur, Gautampur, Ghuski, Harinagra, Jalpapur and Narsingh).

We have earned great appreciation, recognization and popularity in the co-operative banking industry as locals are joining us day by day and request of extending network is being received.

Sarokar Co-operative is working with a vision to create a high-quality, customer-centric, service-oriented and knowledge-driven society to cater the lo locals with economic justice.

Finally, I would like to express my thanks and appreciation to all those who contrributed in these achievements. However we still have a lot of jobs to do and many goals and journey ahead to attain the dream for which our members our members have to exert more and more support and exercise. We have confidence that you will join us during the coming period and we assure you of our full support and co-operation. Therefore, we have enhance our efforts during coming period and work together as one team to achieve our aspired objectives.

Sarokar for economic justice

Sincerely Yours
Mozammil Haque
Education-MBA-Finance & Banking Plus Islamic Finance & Banking
Founder, President & CEO

Introduction
Sarokar Saving & Credit Co-operative Society Ltd. is a co-operative organization registered on 11th Asadh 2070 (25th June 2013) in Co-operative Management and Traning Division, Sunsari, Nepal with a view to serve the people of locality by enhancing their livlihood and eliminating poverty. It started to work officially after its inaugration held on 14th Asadh 2070. Its office is in Ramnagar Bhutha, Sunsari, Nepal.

The authorized capital of Sarokar co-operative is NPR 1.5 million, issued captial of NPR 0.03 million and paid up capital of NPR 0.03 million. 60 percent of the total share is held by the founder members while 40 percent is held by general shareholder/general public. But founder and genral share holders are treated equally without any diffrence and partially and have same rights and power.

The Sarokar stands for public’s support and convenience as it is driven by the values of efficiency in operations, productivity analysis, integrity and high focus on eliminating poverty and uplifting their livelihoods by offering high quality and cost effective products and services.

Saroakar has a wider range of products and services which covers Business Banking, Insitutional Banking, Small & Medium Enterprises Banking (SMEs) Banking, Consumer Banking, Micro-Financing (Group Guaranty Loan), Best Loan ( Poor Loan), agricultura and Social Loan and Daily/Monthly Deposit & other types of Deposit Schemes and Remittance Services.

The working area of Sarokar Co-operative during the first fiscal year was only the Ramnagar and resolution of extending the working area has been ammended and passed by the first annual general meeting. So now Sarokar Co-operative ia working in five VDCs and they are 01. Basatapur 02.Gautampur 03. Harinagra 04. Jalpapur and 05. Ramnagar Bhutaha while Central office is in Falahi Mini Market, Bhutaha Bazar,Ramnagar Bhutaha, Sunsari.

It’s establishment came into existence with a veiw to operate Sarokar Co-operative as Halal Financial Institution where investments are done on babsis of Praductivity Analysis so that aim and objectives of both parties (Sarokar Co-operative & Customers) be fullfilled equally and economically justified.

So it’s an attempt of islamization of co-operative societies and establishment of interest free bank in Nepal in future Insha Allah. The dream has become true with a joint cooperations and keen supports of few local muslim youths of Bhutaha.

Saroakr has gained popularity among all types of community within a very short time and can be understood easily as all the shares of 5,00,000 amount brought first time from the co-operative division, Inaruwa, Sunsari were sold out completely within approaximately 80 days of it’s start from the inaugration.

Presently Non-Muslims friends and brothers have also joined Saroakr and have purchased shares and depositing their amounts seeing it’s vision, mission, objectives, activities, performance and it’s concern of Corporate Social Responsibility (CSR) towards, communities, nations and country as a whole.

Sarokar is running under the Profit Loss Sharing Sytem i.e. Islamic Banking Principles where Deposits are taken under Musharaka (Partnership) and Mudaraba (Profit Loss Sharing Agreement). Profit rate announed in all sorts of deposits are Adjustable Profit Rate (APR). And investments are made under Murabaha (Cost Plus Financing), Muajjal (Cost Plus Financing in Installment Payment System), Ijarah (Rent or Lease) and Qurd-e-Ahasn (Best Loan). Profit rate asked in all sorts of investment are Decling Profit Rate (DPR) while profit demanded in Qurd-e-Ahsan is zero percent.

The Sarokar has 9 member Board of Directors among the founder members with the representaion of Managing Director, Assistant Managing Director, Co-ordinator-Accounts Commitee, Cordinator-Loan Sanction & Recollection Sub-commitee, Co-ordinator- Education-Sub-commitee, Cordinator- Marketting & Advertising Sub-division and three executive Directors.

Vision
To become a leading co-operative financial institution following Halal Banking Priinciples and provides maximum returns to its Stakeholders by establishing economic justice.

Mission
To be one of the best co-operative financial institution within 2022 based on economic justice and key performance indicators based on three pillars-customers & menpower, services & processes and return to stakeholders.

Values
Driven to Exceed Expectations
1. Members: We are driven to exceed your expectations.
2. Process: Evaluation of investment & deposits on the basis of productivity analysis.
3. Employess: Optimum effort and contribution in building our organization.
4. Community: CSR being as a citizen of community.

Integrity
1. Members: Our members value our integrity
2. Process: We approach every aspect of our work with highest degree of Integrity.
3. Employees: Team member effort and optimium contribution.
4: comminity: Sarokar is an integral part of our community.

Sarokar Founder Members are:-
01. Md. Mozammil Haque
02. Salamuddin Ansari
03. Jameel Siddiqi
04. Aqeel Ahmad Siddiqi
05. Muratza Siddiqi
06 Aqeel Ansari
07. Azad Ansari
08. Murshid Alam Siddiqi
09. Faizan Ansari
10. Shabbir Ahmad Siddiqi
11. Waseem Akhtar
12. Shamshad Miya
13. Majebur Rahman Ansari
14. Khurshid Ansari,
15. Salamuddin Ansari
16. Atique Ahmad
17. Prawez Miya Siddiqi
18. Haseeb Alam Ansari
19. Shamsher Ansari
20. Ajmer Ali Siddiqi
21. Israeil Miyan
22. Ashique Ansari
23. Gulab Siddiqi,
24. Farooq Azam
25. Najamuddin Miyan
26. Amanullah Aman
27. Nazam Ansari,
28. Ikramul Ansari
29. Aasif Ansari and
30. Kamal Prasad Gupta

Sanchalak Samiti
01. Mozammil Haque – President
02. Salamuddin Ansari – Vice President
03. Jameel Siddique – Member
04. Aqeel Ahmad Siddque – Member
05. Murtaza Siddique – Member
06. Faizan Ansari – Member
07. Murshid Siddique – Member
08. Azad Ansari – Member
09. Aqil Ansari – Member

Lekha Samiti
01. Jameel Siddique – Co-ordinator
02. Gulab Siddique – Member
03. Farooq Azam Siddique – Member

Rin Upsamiti
01. Aqeel Ahmad Siddque – Co-ordinator
02. Kamal Prasad Gupta – Member
03. Salamuddin Ansari – Member

Shiksha Upsamiti
01. Aazad Ansari – Co-ordinator
02. Naeem Alam Ansari – Member
03. Zubair Alam Falahi – Member
04. Ajmer Ali Siddique – Member
05. Hasib Alam Ansari – Member

Bazar Byawasthapan Upsamiti
01. Aqil Ansari – Co-ordinator
02. Kamal Prasad Gupta – Member
03. khurshid Ansari – Member

Sarokar Products are:-
A. Deposits Schemes
B. Loan Facility
C. Remit Facillities
D. Other Services

(A) Sarokar Deposits Schemes are:-
01. Pension Deposit Scheme
02. Child-Edu Deposit Scheme
03. Daily Deposit Scheme
04. Student Deposit Scheme
05. Normal Deposit Scheme
06. Special Deposit Scheme
07. Widow Deposit Scheme
08. Child Deposit Scheme
09. Fixed Deposit Scheme
10. Monthly Deposit Scheme
11. Jyestha Nagrik Deposit Schem
12. Sarokar Hajj Deposit Scheme
13. Sarokar Muhar Deposit Scheme
14. Sarokar Marriage Deposit Scheme
15. Sarokar Waqf Deposit Scheme
16. Sarokar Zakat Deposit Scheme

(B) Loan & Invest Schemes
01. Micro Loan
02. Short Termed Loan
03. Business Loan
04. Home Loan
05. Agricultur Loan
06. Group Guaranty Loan
07. Poverty Eradication Loan
08. Education Loan
09. Service Loan
10. Social Loan
11. Qurde Ahsan (Best Loan)

(C) Remit Services
01. Prabhu Money Transfer
02. Himal Remit
03. Moneygram Remit
04. Western Union Money Transfer
05. Sewa Express
06. Sidhdhartha Remit

(D) Other Services
01. Domestic Money Transfer Service: Money Transfer service from one place of Nepal to another place of the country or within the country using Prabhu Money Transfer.
02. Domestic Money Transfer Account Depoosit: Account Holders can directly deposit to their Accounts in Commercial Banks, Development Bank, Finance Companies if those Banks are linked to Prabhu Money Transfer Service.
03. MPoS Service: Online Mobile Recharge Facility for Ncell & Ntc prepaid/postpaid numbers & Bill Payment Service for PSTN, ASDL and Landline numbers.
04. Dish Home: Dish Home Recharge Facility for Dish Home Users to view Television Channels.
05. POS Cash: Its an alternative faility of ATM Service where ATM facilities are not avialable. So here in POS Cash Services the STC Card (issued by co-operative Banks) is inserted and swipped into the POS Machine kept in the banks and requested amount is paid to the card holder against of the account.
06. InterCo-operative Money Transfer: A saving account holder of one co-operative society/bank can deposit amount to his/her account from any place of of the country from any co-operative society/bank.

Thank You
Md. Mozammil Haque
President,
Sarokar Saving & Credit Coperative Society Ltd. (Office: Falahi Mini Market, Bhutaha Bazar) Ramnagar Bhutaha, Sunsari, Nepal
Mobile: +977-9842570612 (Mozammil), 9815305153 (Mozammil), 9817343041 (Mozammil), 9817343042 (Wasique), 9804075999 (Jameel), 9818133206 (Gulab), 9815305059(Wasique).
Email: sarokarcooperative@gmail.com, sarokarcooperative@yahoo.com

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