Introduction

Sarokar Savings & Credit Co-operative Society Limited (सराेकार बचत तथा ऋणा सहकारी संस्था लिमिटेड) is a co-operative type of financial organization registered under Divisional Cooperative & Training Office, Inaruwa Sunsari (district). Its head office is in Harinagar Rural Municipality (Bhutaha Bazar-5) Sunsari. Sarokar has only two branch office one is in Sarokar Petrol Pump Bhutaha-06 and the second one is Ghuski Bazar Sunsari.

Sarokar collects deposits from its members and provides loans and other financial facilities its valued members under different halal banking nodes of investment in a convenient way. Thus working towards social security and economic transformation. Sarokar Management has developed a screening deposit and credit policy under which no cash is taken as a deposit from those who are running unhygienic and unhealthy business activities in the society and vice versa. For example if anyone running wine and beer shops, brothels, etc then they neither can deposit their cash nor can enjoy any sort of credit facilities. Management has strictly prohibited the loan facilities for those who are performing meter biyaji karobar.

Sarokar came to existence on the 11th of Asar, 2070 under the initiative of 29 local youths with the slogan “to make the society sound and healthy”. Therefore, works started from the total collection of one lakh collected from 29 members. Some deposited 4000 in share while some 300 only. The prime motive of this organization was to set this society free from interest, high rate of interest and compounding of interest bring the new concept of profit and loss sharing system (PLS System) Organization was established to encourage the habit of saving and to utilize the collected amount through its members for the promotion of various social enterprises. In a short span of time, Sarokar became one of the popular cooperative and brought various social programs to attract stakeholders.

Alongside financial activities, the organization has always been active in bringing about positive changes in the lifestyle of its members by being engaged in non-financial and social transformation programs. Due to its diversified activities, it has been able to receive Best Cooperative Award from the District Cooperative Sangh Sunsari on the occasion of the national cooperative day organized in Itahafri, Sunsari.

By being able to be the first choice of the community through it competitive, qualitative and easily-accessible financial and non-financial services to its members, this organization is currently working through two service centers, equipped with ultra-modern software and ABBS service guided by the principle of providing services through latest technology and equipment, it has recently started SMS banking and SCT service whereas customers can withdraw money by swiping their ATM cards in any bank in the country using SCT network With a view to institutionalizing the capacity and the quality of service provided by the cooperative to its customers.

There are currently 2500 members in this organization. Among them 66 percent of the total members are male while 34 percent are female members. Similarly, there are 12 staff members in the organization providing s services to the members, account holders and service recipients.

The organization makes its financial indices public through the website, annual report, educational camps, public account auditing, radio programs and it also follows good governance and transparency by adopting the policy of barring its chairman and his family members from taking loans. Through different policies and procedures, the organization has been run and guided by policies rather than by individuals.

It currently has the representation of members from Harinagar Rural Municipality and is currently engaged in the task of widening the working area and leadership development by setting up administrative sub-committees at the local levels.

Name List of Founder Share Members