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Wahida Mohamed Team
Description Team Members are drawn from the 1st Cohort of Founders from the Islamic Fintech Hub for Sub Saharan Africa , based out of Nairobi Kenya. The Savings product is developed based on the following Hadith Narrated Abu Musa: Allah's Messenger (SAW) said; "The example of a good companion (who sits with you) in comparison with a bad one, is like that of the musk seller and the blacksmith's bellows (or furnace); from the first you would either buy musk or enjoy its good smell while the bellows would either burn your clothes or your house, or you get a bad nasty smell thereof." What is Fransi M- Hayi Group Savings account? Do your friends share the same vision for progress and growth like you? Are they like you, dependable and goal oriented? Do you have a shared purpose? Then The Fransi M-Hayi Group Savings Account is for you. M- Hayi is coined from the Arabic Word Hayi that means live. Fransi M-Hayi Group Savings Account is a revolutionary Bank Saudi Fransi Savings Product. The ‘M’ signifies mobile centric as this product is to be operated entirely from the mobile phone. All you need is your handset and a strategically chosen group of friends. How Fransi M-Hayi works - Access FransiMobile or FransiPlus - Select Bank Saudi Fransi Hayi Group Savings Account, - Register and accept terms and conditions - Log in - Invite other savings group members to join (minimum 2 - Individual holders of Bank Saudi Fransi Personal Account(s)) - Agree and set monthly contribution amount on app. - Use app to generate randomly monthly member pay out list. - All members to approve SMS Alert for direct debit instructions for every 3rd of the month (from personal to group account) - Every 5th of the month 40% of total savings group amount will be paid automatically to one individual member Bank Saudi Fransi Personal Account until all members receive pay out. - Lock Savings:  Every 5th of the month 25% of total group savings is sent automatically to Bank Saudi Fransi Real Estate Investment Fund (REIT) or long term Bank Saudi Fransi investment fund of choice  Every 5th of the month 25% of total group savings amount is paid for Bank Saudi Fransi Treasury products or other medium term Bank Saudi Fransi Investment fund of choice  Every 5th of the month 10% of total group savings amount is transferred to Bank Saudi Fransi one year Fixed Deposit Account or short term Bank Saudi Fransi investment account of choice to cater for Annual Group Meeting/ weekend gate-away - Free Balance and mini -statement enquiries access by all group members - SMS alerts to all group members whenever a transaction occurs, when the savings cycle requires renewal and in case of default - Opt Out - Terms and Conditions


Team Members
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  • Remember selected settings
  • Keep track of your visited pages and interaction taken
  • Keep track about your location and region based on your IP number
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  • Increase the data quality of the statistics functions
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  • Identify device you are using
  • Gather personally identifiable information such as name and location