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

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MOHAMMED IQBAL…
 - 
Monday, 16 Apr 2018

ASSALAMUALAIKUM,

 

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

 

 

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Yasin Mahetar
 - 
Friday, 10 Feb 2017

Assalamu alaikum
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MUNEER AHAMMED A
 - 
Wednesday, 25 Jan 2017

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Syed Mahammad Ali
 - 
Sunday, 4 Dec 2016

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Syed Mahammad Ali
 - 
Sunday, 4 Dec 2016

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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.
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Sadikh. m
 - 
Sunday, 6 Nov 2016

Assalamu alaikum

I am sadikh , working in a pvt company in Riyad

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Thanking you and looking forward to hear from you soon

With regards
Sadikh

SHahid
 - 
Thursday, 13 Oct 2016

As salaam alaikum,

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Mohammed Salman
 - 
Wednesday, 12 Oct 2016

Bismillah ir Rahman nir Rahim

Assalamau alaikum ,

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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,
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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
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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,
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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

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Assalamu Alaikum

SHAIK MAHAMMAD RAFI
 - 
Tuesday, 9 Aug 2016

Sir
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Please give details save from haram.......
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Samee
 - 
Friday, 22 Jul 2016

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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

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Shafik
 - 
Sunday, 10 Jul 2016

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Mujhe loan ki zarroorat hai.
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Asha
 - 
Tuesday, 28 Jun 2016

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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

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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
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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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News Network
July 5,2020

Bengaluru, Jul 5: Karnataka Chief Minister BS Yediyurappa has announced an ex-gratia of Rs 5 lakh each for the families of a youth and a child, who died due to a landslide at Gurupura in Mangaluru.

"The Chief Minister announces Rs 5 lakh each compensation to Safwan (17) and Shehla (10) who died due to landslide at Gurupura, Mangaluru. Houses will also be built for people who lost houses at Bodanthilla, Dakshina Kannada," an official said.

The incident occurred on Sunday afternoon.
The State Disaster Management Authority said that 57 people and 262 animals lost their lives in flood, rainfall and lightning-related incidents in Karnataka between April 1, 2020, and July 5, 2020. 

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News Network
March 15,2020

Bengaluru, Mar 15: Karnataka government has said that as of now six cases of COVID-19 have been reported in the state, including one person who died.

"Till date six COVID-19 cases have been reported in the state including one death. The 5 Coronavirus positive cases are in isolation at the designated hospital in Bengaluru," the Karnataka government said on Sunday.

Meanwhile, the Health Department of Karnataka on Sunday said that all the family members and other contacts of the 76-year-old man who died of coronavirus in Kalaburagi are being monitored closely.

The Union Ministry of Health and Family Welfare informed that India's tally in the number of positive cases for coronavirus has reached 107 on Sunday.

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coastaldigest.com news network
February 28,2020

Mangaluru, Feb 28: Two labourers lost their lives as they were buried alive in a landslip at Karangalpady Junction near Bunts Hostel in the city today.

The landslip occurred when a compound wall collapsed burying at least five persons under the debris. It is feared that three people are still under the debris.

The deceased have been identified as Mohammad Masood (20) from West Bengal and Bhimappa (25) from Bagalkote.

Local police and fire fighters are carrying out rescue operation.

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