Safaricom and Gulfcap Investment Bank (GCIB) have launched Ziidi Shari’ah Money Market Fund, expanding access to Shari’ah-compliant investment through the M-PESA platform.
Ziidi Shari’ah combines Safaricom’s digital capabilities and customer reach with GCIB’s investment management and Shari’ah expertise. Customers can access the fund through MySafaricom App or by dialling *334# and begin investing with as little as KES 100. Subsequent top-ups start from KES 10.
The fund is regulated by the Capital Markets Authority and operates in accordance with Shari’ah principles under the oversight of GCIB’s Shari’ah Supervisory Board. It operates independently from Safaricom’s conventional Ziidi Money Market Fund and invests in short-term, highly liquid instruments held with Shari’ah-compliant banks.
Customers can track their daily profit, make free deposits into their Ziidi Shari’ah accounts and withdraw funds into their M-PESA wallets at no cost. They can also lock funds to encourage disciplined investing and reduce unplanned withdrawals.
The launch expands M-PESA’s financial services offering beyond payments and transfers, giving customers another digital option for saving and investing. The fund has no maximum investment limit, although M-PESA transaction limits apply, including a daily limit of KES 500,000 and a per-transaction limit of KES 250,000.
