MSFN FAQ

 

MSFN FAQ


Is MSFN formed or about to be formed?
How can one subscribe to MSFN if one is interested?
Apart from payment of dues, is there any other criterion (criteria) for being a member?
Knowing that not all Muslims are members of MSS, would you not be excluding some poor Muslims from this scheme if they do not participate in MSS activities?
Will MSFN be an equal opportunity scheme for males and females alike?
Will a "nominal" Muslim qualify for this loan especially if he/she is indigent?
The only thing that worries me though, is the management logistics. We are, almost, all outside Nigeria, scattered all over the globe, how do we find trustworthy managers at home. Please, enlighten me a bit more on the planned strategy

Is MSFN formed or about to be formed?

The idea for MSFN was mooted in October 1999. At the time, a core group of about 6 partners (All MSFN participants are called partners) developed a working proposal, which has been revised a few times. Thereafter, the number of partners was increased by inviting several Muslims who we thought will be interested. Anyway, the list of partners is now about 30, and growing since we are simultaneously embarking on a partnership drive.

How can one subscribe to MSFN if one is interested?

Send an e-mail to MSFN-owner@yahoogroups.com. Please inform hakeemj@gmail.com if there are any difficulties

Apart from payment of dues, is there any other criterion (criteria) for being a member?

MSFN members must be Muslims

Knowing that not all Muslims are members of MSS, would you not be excluding some poor Muslims from this scheme if they do not participate in MSS activities?

Membership in MSS is not a requirement to benefit in the scheme. However, participation in community activities is. MSFN's intention is to encourage Muslims who will also be active in the community. The community activities can be in the form of MSS activities, arranging coaching lessons for younger students in the community etc. The emphasis is on developing Muslims who are also community conscious

Will MSFN be an equal opportunity scheme for males and females alike?

YES

Will a "nominal" Muslim qualify for this loan especially if he/she is indigent?

For MSFN, the requirements are that the person should be a Muslim, be community conscious, of good academic standing and indigent. The beneficiaries will be selected from a pool of those who meet these requirements. In addition, there may be some beneficiaries who are sponsored directly by partners

The only thing that worries me though, is the management logistics. We are, almost, all outside Nigeria, scattered all over the globe, how do we find trustworthy managers at home. Please, enlighten me a bit more on the planned strategy

MSFN strategy can be summarized in three statements: We have attempted to put in place a system of checks and balances, with emphasis on accountability by the Board of Trustees as well as the Co-ordinating Committee. This is outlined in the intent document. Some of the founding partners are also based in Nigeria. We do hope that as the efforts grow, and more people see the way in which the affairs of MSFN is being run, the circle of membership in Nigeria will grow rapidly, and we will get a bigger pool from which to select our trustees. All partners actively participate in the affairs of the fund, this helps to ensure that the system of checks and balances put in place actually works