GulfCap Investment Bank (GCIB) Ziidi Shari'ah Money Market Fund
Islamic Investing in Murang'a
The Shariah-compliant sibling of Safaricom's Ziidi money market fund: a standalone collective investment scheme registered by GulfCap Investment Bank with CMA approval granted 20 February 2025, offered to M-PESA customers entirely through the M-PESA app and *334# USSD. Targeted at registered M-PESA customers 'who either profess the Islamic faith or prefer to invest in Shariah-compliant financial products' per the CMA approval. Opt-in requires being 18+ with an active M-PESA account for at least 3 months; units are created digitally, priced daily, and redeemed back to the M-PESA wallet (cma.or.ke approval notice 20 Feb 2025 and Safaricom Ziidi Shari'ah terms and conditions, accessed 2026-08-06).
Ziidi Shari'ah is the most important distribution event in Kenyan halal finance: it puts a Shariah money market fund inside M-PESA, where 30-plus million Kenyans already live. The regulatory structure is genuinely separate from the interest-earning Ziidi. But the transparency gap is wide: no rate, no board, no fees printed anywhere public, and T&Cs that say 'interest' while describing a Shariah fund. Use it for convenience-first halal saving, check the in-app rate, and treat Etica (printed rates, KES 100) or Mansa-X Shariah (named board) as the disclosure-superior alternatives.
Pros
- Unmatched distribution: every M-PESA customer in Kenya can access it without a new app or KYC pack
- Regulatory separation from the interest-earning Ziidi fund is real, with its own trust deed and promoter
- Zero-cost M-PESA rails for deposits and withdrawals mirror the conventional Ziidi setup
Cons
- No published profit rate, fee schedule or portfolio for the Shari'ah class
- No named Shariah board anywhere in the public documentation
- Safaricom's Shari'ah T&Cs use interest language, sloppy drafting for a faith product
- Fund manager arrangements are 'as set out in the Trust Deed', which is not publicly posted
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Product Details
Type
money_market_fund
Min Investment
No stated minimum in the Shari'ah T&Cs; conventional Ziidi starts at KES 100 and M-PESA transaction limits apply (KES 500,000/day, KES 250,000/transaction)
Screening Method
Standalone Shariah fund with distinct incorporation documents per CMA; screening methodology not published
GulfCap Investment Bank (GCIB) in Murang'a
GulfCap Investment Bank (GCIB)'s Ziidi Shari'ah Money Market Fund is accessible to investors in Murang'a, structured as Shariah money market CIS delivered through M-PESA: Kenya's Shariah funds are national digital products reached by app, USSD, and M-PESA, so county matters less than fees and governance. Minimum investment: No stated minimum in the Shari'ah T&Cs; conventional Ziidi starts at KES 100 and M-PESA transaction limits apply (KES 500,000/day, KES 250,000/transaction). GulfCap Investment Bank (GCIB) serves customers across Kenya, so Murang'a residents have full access to this product subject to the eligibility requirements above.
Shariah Compliance & Oversight
No Shariah board or advisor for the Ziidi Shari'ah fund is named in the CMA approval press release, Safaricom's published terms and conditions, or GulfCap Investment Bank's public materials. GulfCap's group brochure references a Shariah division and the Safaricom Ziidi Shariah mandate, but no scholars are listed (accessed 2026-08-06).
2026-08-06
Why It's Halal
The fund exists specifically because the conventional Ziidi MMF earns interest from T-bills and deposits; the CMA approved this as a standalone fund with its own trust deed, information memorandum and promoter so Muslim customers get a separate Shariah-compliant portfolio. GulfCap Investment Bank, whose group runs a dedicated Shariah division, is the fund manager. Serious caveats: neither Safaricom nor GulfCap publishes the fund's Shariah board, screening methodology, profit rate or portfolio, and Safaricom's own T&Cs for the Shari'ah product repeatedly use the word 'interest' when describing accruals, a drafting failure that undermines confidence in the execution (safaricom.co.ke T&Cs, accessed 2026-08-06).
Regional Availability
GulfCap Investment Bank (GCIB) serves all of Kenya
✓ Available nationwide including Murang'a
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Total Value
Ksh 343,778
Contributed
Ksh 130,000
Growth
Ksh 213,778
Hypothetical projection. Past performance does not guarantee future results.
Compare FundsFrequently Asked Questions
What is GulfCap Investment Bank (GCIB) Ziidi Shari'ah Money Market Fund?
Why is GulfCap Investment Bank (GCIB) Ziidi Shari'ah Money Market Fund considered halal?
Is GulfCap Investment Bank (GCIB) Ziidi Shari'ah Money Market Fund available in Murang'a?
What Shariah oversight does GulfCap Investment Bank (GCIB) have?
What financing structure does GulfCap Investment Bank (GCIB) Ziidi Shari'ah Money Market Fund use?
How do I apply for GulfCap Investment Bank (GCIB) Ziidi Shari'ah Money Market Fund in Murang'a?
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Important: HalalWallet provides educational information and comparisons to help you explore halal financial options. We do not provide financial, legal, or religious advice. Product structures and Shariah compliance oversight vary by provider. Always verify halal compliance directly with providers and consult with qualified Islamic finance advisors or scholars for guidance on specific products and your individual circumstances.