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Kerala: India's first Islamic bank gets RBI approval

[email protected] (News Network)
August 18, 2013

Kochi, Aug 18: The Kerala government has got a go-ahead from the Reserve Bank of India to launch a financial institution following the principles of Islamic finance.islamic_banking

Cheraman Financial Services Limited (CFSL) will be floated by Kerala State Industrial Development Corporation to function as a non-banking finance company (NBFC). A formal announcement on CFSL, the latest incarnation of Al Baraka Financial Services, was made on Saturday.

Industries minister PK Kunhalikutty and CFSL chairman P Mohamad Ali told reporters here that the firm would function as a non-banking finance company with an authorised capital of Rs 1,000 crore.

CFSL has already received clearances from the RBI, the Securities and Exchanges Board of India ( SEBI) and the wakf board, the chairman said.

The Kerala State Industrial Development Corporation ( KSIDC) will be the single largest shareholder in the company, holding 11% shares. The other individual shareholders can hold a maximum of 9% shares.

Counting on the state's traditional Gulf links, the previous government had hoped to raise Rs 40,000 crore. The Sharia-compliant CFSL will launch road shows in various cities of India and the Gulf countries from next month

The body will desist from charging interest on loans or give interests on deposits. It will target sectors like infrastructure, services and manufacturing sectors and keep off taboo areas including liquor, tobacco and gambling or speculation. Financing start-up projects is one of its pilot programmes.

The firm will float an alternative investment fund under the banner of Cheraman Fund, with a corpus of Rs 250 crore. The fund will focus on manufacturing and service sectors, mainly in Kerala.

Initially, the fund will raise about Rs 50 crore and one of the early projects to be taken up will be to provide support to startup schemes, managing director APM Mohammed Hanish said.

Comments

Zakariya Zak
 - 
Tuesday, 29 May 2018

I am very interested to member of an Islamic bank either depositer or shareholder pls inform

MOHAMMED IQBAL…
 - 
Monday, 16 Apr 2018

ASSALAMUALAIKUM,

 

    SIR, I am looking one islamic bank to complete my house work . I didn't take any loan because all banks taking interest rate for all loans. kindly send me the details of loans. I am in Saudi Arabia. Working Receptionist in Medical Center , Jeddah.

 

 

I am from calicut, if there is your branch in calicut city then inform me also.

 

 

 Regards,

 

Mohammed Iqbal Maliyekkal

 

westhill. calicut -5  (  00966502729622)  (Whatsapp no)

Yasin Mahetar
 - 
Friday, 10 Feb 2017

Assalamu alaikum
My self yasin mahetar from gujarat long time i finding 0%intrest loan etc but indian bank without interest does not work, as i came to know about islamic bank in kerala, i am writing you message so i request you please email me how can i open account in your bank etc.

MUNEER AHAMMED A
 - 
Wednesday, 25 Jan 2017

Dear Readers,
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If you feel free make me a call +91 9745 226 500.
(Please contact if you are 100% Genuine)

Syed Mahammad Ali
 - 
Sunday, 4 Dec 2016

I am Indian muslim and small business man, I need business loan of your organization, because my business is bigger now

Syed Mahammad Ali
 - 
Sunday, 4 Dec 2016

I am Indian muslim and small business man, my business is bigger now, but presents financial condition is very bad, I need business loan of your organization, please help me

Sadikh. m
 - 
Sunday, 6 Nov 2016

Assalamu alaikum.

I am Sadikh, working in Riyad.

I wish to make a home, but i have no lot of money to make the same and also do not want to take the loan on interest due to religious reason, because my religion does not allow to take the loan on interest, so I would request you to kindly advise if this bank can give the home loan upto 5lacs then i will be able to pay all the loan within3-4 years.
May I know the procedure about this.
Thanking you and looking forward to hear from you soon.

With Regards
Sadikh

My Mb no is 9744347363

Sadikh. m
 - 
Sunday, 6 Nov 2016

Assalamu alaikum

I am sadikh , working in a pvt company in Riyad

wish to make a home, but i have no lot of money to makethe same and also do not want to take the loan on interest due to religious reason, because my religion does not allow to take the loan on interest, so I would request you to kindly advise if this bank can give the home loan upto 5 lacs then i will be able to pay all the loan within 3 - 4years. May I know the procedure about this loan

Thanking you and looking forward to hear from you soon

With regards
Sadikh

SHahid
 - 
Thursday, 13 Oct 2016

As salaam alaikum,

I have house loan can I shift it to Islamic bank, please let me know details.

Regards,
Shahid.
9326649496

Mohammed Salman
 - 
Wednesday, 12 Oct 2016

Bismillah ir Rahman nir Rahim

Assalamau alaikum ,

My self Mohammed from Chennai. I'm really happy that news of Islamic Bank. I want to open an SB account in Islamic Bank is there in branch in around Chennai. Please lets us inform me.

Please open in lots of Islmaic Bank in Tamil Nadu. Muslim people searching islamic bank in around Tamil Nadu. We are paying lots of interest Indian bank. I request you to obtain the open branch in tamil nadu and all over India.

Rest in mail.

Allah Hafiz.
Regards/Mohammed
Chennai

syed rizwan
 - 
Monday, 10 Oct 2016

Assalamu alaykum
This is syed rizwan from tamil nadu part of villupuram dist (gingee ) I want to open account in islamic bank and I want to know the procedure to get loan upto 5 lakhs, pls send me the details .

Jaza kallah khairan

Syed rizwan

Mohammed Sayeed
 - 
Wednesday, 5 Oct 2016

?????? ????? ????????? ???????
Dear Sir
I was searching for islamic bank in indiasince long time thanks to Allah that he showed the way through yours Allah Shows us the ways more and more to be close to Imaan Ameen.
I would Like to open NRI Account and Saving Account .Please let me know the procedure

Jazak Allah Khair

Your`s Sincerely,
Mohammed Sayeed
Mobile : 00966565738841

Asif
 - 
Sunday, 2 Oct 2016

Plz send details to open account and get loan
MASHA-ALLAH

Mohammad Azhar
 - 
Friday, 30 Sep 2016

As-slaamu-alekum

I am mohammad azhar and i am from delhi
i would like to starrt my career with islamic bank in india.
Request you to please guide me to enter in islamic banking.

shahnawaz khan
 - 
Sunday, 25 Sep 2016

please help me, i want urgen business loan, very urgent

Mir shareef Ali
 - 
Tuesday, 30 Aug 2016

As Salam Alaikum,
My self Mir Shareef Ali. I stay in Hyderabad, Telangana. I would like to open a saving account in Islamic bank. Please let me know the procedure. Below are my contact details.

Mobile number: 9700087648
E-mail: [email protected]

Mojib Khan
 - 
Tuesday, 23 Aug 2016

???????????????? ????????????? ?????????? ????? ??????????????
My name is Mojib Khan
I am from mumbai
I want to start a new buisness like Computer engineer AMC shop. But my financial condition is very poor. So need financial help. I want 2 lac loan. I'll clear this amount in 24 month insha allah. Please do the needfull asap
???? ???? ????

Mohamed Ajmal K
 - 
Thursday, 11 Aug 2016

I Want Islamic Banking Job, Any Where , My Qualification M.B.A. (Finance /H.R.) i have experience of 6 years in N.B.F.C... jobs available contact me.
Assalamu Alaikum

SHAIK MAHAMMAD RAFI
 - 
Tuesday, 9 Aug 2016

Sir
I am govt Urdu teacher salary 40000 above I want to contrast new house how I apply for loan as Islamic view....my wife also govt teacher same salary......

Please give details save from haram.......
+91 9949143410 , +91 9440407686

Samee
 - 
Friday, 22 Jul 2016

Sir mujhe loan chahiye daughter ki shaadi Karim hai is liya loan chahiye tha 1,50,000 ya 2,00,000 chahiye please help me

MOHAMMED ALI
 - 
Friday, 22 Jul 2016

Assalamu Alaikum

Dear sir
please help me , my sister marriage is next mounth , i need loan for that please help me please

MOHAMMED ALI
 - 
Friday, 22 Jul 2016

ASSALAMU ALAIKUM

I NEED PERSONAL LOAN VERY URGENTLY DUE TO MY SISTER\S
MARRIAGE, IN NEXT MONTH PLEASE HELP ME"

MOHD SALEEM
 - 
Monday, 11 Jul 2016

Assalam alaikum sir i want job in islamic bank if u have any vacancy plz contact me i completed m.com this year ... Contact me at 7078659755

Shafik
 - 
Sunday, 10 Jul 2016

Assalaam Alaikum,
Mujhe loan ki zarroorat hai.
Mujhe 3.0 lakh chaye .
Please call me 09420367389

Asha
 - 
Tuesday, 28 Jun 2016

Alhamduillah, thanks for this effort.
I am working in Muscat & would like to open an NRI account in ur bank.
Require ur guidance for the same

Asha
 - 
Tuesday, 28 Jun 2016

Al Hamduillah, the most awaited islamic bank is here. I am working in Muscat & would like to open an NRI account in ur bank. Need ur guidance for the same.

Mohammed Mohideen
 - 
Monday, 27 Jun 2016

Ahsalamu Ahlaikkum,

Dear Sir,

I want to save in Islamic bank.........

So tell me the procedure............

Md farid uddin
 - 
Sunday, 19 Jun 2016

Sir I'm working HDB financial services as sales manager, I have almost10yers experience banking finance sector, I want join Islamic bank,please if you have any vacancy, than inform me. Thanks & regards. Md Farid Uddin. Cont no 9088848054,7890120445

shams
 - 
Saturday, 18 Jun 2016

assalamu alaikum.
sir,
i am a gov. Employee.
i have 24lac Housing loan for house Purchase.
my salary is 49000/month.
so can you sanction me house loan.
and what is criteria for home loan.

Shabbir Khan
 - 
Saturday, 18 Jun 2016

Assalamualaiykum!
Dear Sir,

I was searching for islamic bank in india since so long thanks to Allah that he showed the way through your's. Allah shows us the ways more and more to be close to imaan Ameen.

I would like to open 2 NRI accounts and 5 Saving Account for my family could you please let me know the procedure Jazak Allah.

Your's Sincerely,

Shabbir Khan
Cell: 00971 55 5634 890

ABDUL AZEEZ P K
 - 
Monday, 13 Jun 2016

Dear Sir,

I am from Karnataka and working in Dubai.

Can i open NRI account in your bank?

Please send me the details.
Mob no:+971557761533

Regards,
Azeez

SALEEM KHAN
 - 
Friday, 3 Jun 2016

I AM SALEEM KHAN , I AM DOING GARMENT MANUFECTURING BUSSINESS IN MUMBAI ALONG WITH MY YOUNGER AND ELDER BROTHER . SIR IN MARCH 2016 MY YOUNGER SISTER MARRIGE IS HELD .I N MARRIGE MY WORKING CAPITAL HAS BEEN SPENT BEEN SPENT SO PLS SEND ME DETAIL FOR TAKINK LOAN MY MOB. NO. IS 7738767199
.

amin hussain
 - 
Thursday, 2 Jun 2016

asslam alekum sir
I want to open an account in your islamic bank
can you send me the details??????
thank you.

ramees
 - 
Monday, 23 May 2016

I am looking for an interest free NRE a/c, can you please help me?

MD. MARGHUB HUSSIN
 - 
Sunday, 15 May 2016

Assala mo alaikum.
Derar sir , meri ek dukan lohe ki MOTHER STEEL & IRON ke nam se purnia bihar me 18 oct 2015 ko oppning huwa h or mai chahta hun k aap k bank se kar bar krun kiyun k agar aap apna customer k like samjhe to mujhe aap cal kr sakte h kiyun k mujhe kuch bank se bhi help chaihiye contact no. 09939756221

Mohammad Maaz Khan
 - 
Thursday, 5 May 2016

Assalamualaikum dear sir,

I want to open account in yr Islamic bank.
Pls guide me.
Salam

Mohammad Maaz Khan
 - 
Thursday, 5 May 2016

Assalamu alaikum dear sir,

I want to open my account in your Islamic bank
Can you please send me required information to open account.
Thanks
Salam

J M Husain
 - 
Tuesday, 3 May 2016

I would like to have my family accounts in Islamic Banks and also would be interested to start a branch in Allahabad, UP.
Please if possible do call me at +91-9611622833

MIR ANVER ALI
 - 
Monday, 2 May 2016

I WOULD LIKE TO OPEN AN SAVING BANK ACCOUNT IN YOUR BANK OF ISLAM, KINDLY SEND ME THE OPENING OF BANK ACCOUNT FORM ALSO SEND THE TERM AND CONDITION TO AVAIL LOAN AND RE-PAYMENT DETAIL. MAY ALLAH GIVE BARAKATH TO YOUR BANK. VASSALAM
MY CELL NO.9840876199/8148641326.

AFTABALAM SHAIKH
 - 
Thursday, 28 Apr 2016

I am looking for the possibilities to open this bank branch in our city.

Shaikh Alimudd…
 - 
Sunday, 10 Apr 2016

Asslamwalykum aap se gujarish he lona ke liye

Shaikh Alimudd…
 - 
Sunday, 10 Apr 2016

Asslamwalykum aap se gujarish lona ke liye

Shaikh Alimudd…
 - 
Sunday, 10 Apr 2016

Asslamwalykum aap se gujarish lona ke liye

Sameer Syed
 - 
Tuesday, 5 Apr 2016

Sir,

It's definitely a good news. I would like to know investments opportunities in this bank. Please mail me your details.

rafeek indraje
 - 
Tuesday, 29 Mar 2016

I wishes apporval r b I
secsus opportunity lslamic bank
thanks

AHMAD ZOHEB
 - 
Tuesday, 29 Mar 2016

Dear Sir / Madam,

I am AHMAD ZOHEB and workign as a EXPORT / IMPORT EXECUTIVE in Kanpur.

I wish to purchase a home, but i have no lot of money to purchase the same and also do not want to take the loan on interest due to religious reason, because my religion does not allow to take the loan on interest, so I would request you to kindly advise if this bank can give the home loan upto 10 lacs then i will be able to pay all the loan within 8-10 years.

Thanking you and looking forward to hear from you soon.

With Kindest Regards,
Zoheb

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coastaldigest.com news network
July 8,2020

Kasaragod, Jul 8: The meeting of Kasaragod district-level corona control core committee has resolved to make pass mandatory for vehicles to bring vegetables and fruits to Kasaragod from Dakshina Kannada and other parts of Karnataka.

Pass will be issued by RTO. Employees, including the driver of the vehicle, must visit the nearest primary health facility once in seven days and undergo a health check and submit a medical officer's certificate.

District Collector Dr D Sajith Babu, who presided over the meeting, said that only those vegetable and fruit vehicles that produce medical officer's certificate and RTO's passes will be allowed to cross the border.

Meeting, the RTO has decided to convene an emergency meeting of vegetable and fruit merchants.

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News Network
March 30,2020

Mangaluru, Mar 30: In continuing cases of tipplers in the southern states ending their lives due to non-availability of liquor during the lockdown, two men committed suicide in Karnataka's Dakshina Kannada district.

The two suicides were reported in Kadaba taluk on Saturday, police said.

Tomy Thomas (50), a rubber tapping labourer in an estate at Kutrupadi village of the taluk, was found hanging at his rented house on Saturday. Thomas, a native of Kottayam in Kerala, had joined at the estate here a month ago.

Local people said he was desperately moving around in the last few days asking about places where he can get liquor. He had also not reported to work in these days. The body has been kept at the mortuary of a hospital at Deralakatte.

In another incident, a 70-year old man, belonging to Kodimbala village in the taluk, allegedly hanged himself from the branch of a tree near his house at Nakur.

The deceased has been identified as Thomas, who had left his family here 30 years ago and had been working in Kerala. He had returned here only a few years back.

Sources said Thomas, an alcohol addict, was having health problems related to withdrawal. He has been living on pavements at Kadaba without going home.

Kadaba police has registered cases in connection with the two incidents.

Incidents of tipplers committing suicide have been reported in Kerala and Telangana in the past few days. Two men ended their lives in Kerala today while a 50-year old daily wage worker jumped to death from a building in Hyderabad on Friday.

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News Network
April 19,2020

Mangaluru, Apr 19: In order to boost the Coast Guard's (CG) surveillance and reconnaissance capabilities on the country's west coast in Karnataka, CG OPV Varaha and CG Dornier 785 ex Kochi were pressed to service to undertake extensive surveillance.

"Both seawards and aerial surveillance of Karnataka coast line will be undertaken from Sunday," said S Babu Venkatesh, Commander, Coast Guard, Karnataka. The surveillance will be an air-sea coordinated operation.

The Coast Guard ships and aircraft maintained extensive search in the area for intercepting any suspect vessel. Indian Coast Guard ships classified various contacts in the area and kept them under constant surveillance.

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