AL-KAWTHAR (IFO)
CO-OPERATIVE MULTI-PURPOSE SOCIETY LIMITED
   BRIEF HISTORY
In response to the yearning and aspirations of improving the Muslim Ummah's economic wellbeing that is in accordance with the
injunction of Allah and the sunnah of the Holy Prophet Muhammad(SAW), twelve Muslim professionals/promoters organised Al-Kawthar
( Ifo) Cooperative Multipurpose Society Limited on 7 Ramadan, 1432 AH ( 7th August, 2011 CE) at Inheritors' Academy, Ifo as a non
interest loan financial scheme following approved Sharia operation; Profit / Loss sharing method(Musharaka) and profit mark-up (sales)
or rental method ( Ijarah, murahaba and Bi- muajjol).  By  5 Jummadal Awwal, 1433 AH ( 29th March,2010CE) secured the approval of
the Ogun State Government with Registration No:  9523. On 15 Shawwal, 1433 AH (2nd  September, 2012 CE) held its official
presentation.     
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