Mangalore gets new interest-free Islamic bank

[email protected] (CD Network, Photos by Ahmed Anwar )
February 15, 2014

Mangalore, Feb 14: A branch of Amanah Social Credit Co-operative Society Ltd (ASCCS) was inaugurated in the city on Friday.

With branches in Bangalore, Davangere and Shimoga, this is the fourth branch of ASCCS which invests in businesses on a partnership basis with zero interest.

Chairman of DK District Wakf Board S M Abdul Rasheed inaugurated the new branch located at Al-Rahaba Plaza, State Bank, in the presence of editor of Sanmarga Weekly A K Kukkila.

Speaking on the occasion, CEO of the cooperative society Ilyas Pasha said that the establishment of Amanah was a step towards managing money in an interest-free way.

The society will help in providing business loans or mortgages through ethical practices and investments in businesses on a partnership basis through non-profit equities, he said.

He said that the society would provide services like short-term financing plans and long-term financing places such as loans in accordance with Islamic principles.

ASCCS is a wing of Amanah Institute of Islamic Banking and Entrepreneurship Development.

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Comments

Naseema ahmed
 - 
Tuesday, 30 Apr 2019

Can u plz Send address n contact no. Of abov bank

 

NISHAR AHAMMAD M
 - 
Thursday, 20 Dec 2018

Assalamu Aliakum dear sir Iam looking for an intrest free loan of around 5 lakhs against our Tours and Travels office in puttur can you plese do the needful. you can also reach me to my number 7204760308,9743096308

muneer ahmed
 - 
Saturday, 18 Aug 2018

Respected sir i am Muneer ahmed searching for a mortgage loan sir plz give me answer sir my property is value is 2cr nearby Wilson garden total measurement is a 30×47+48 total square feet is a 1425 and my property is a  (A) khatha property sir plz give me answer sir 

muneer ahmed
 - 
Friday, 27 Jul 2018

Assalamu alaikum respected sir this is muneer ahmed regarding for a home loan.sir please give me a answer, i had borrow the loan from Bangalore city co operative bank, amount was 45lakhs and there interest rate is too high, i m facing very difficult to repay the loan.. so wanted to transfer my loan to Amanah Social Credit Co-operative Society Ltd, my property value upto Rs.2crore, near by Wilson garden.. sir please help me on this.. my contact num is 9620474990.

Abdul Muneer
 - 
Tuesday, 3 Jul 2018

Assalaamu Alaikum I need 3lakh loan for Auto rickshaw I want interest free loan, so what type of documents needed for this purpose please help me I am 2nd P U C passed also

BISMILLAH
 - 
Tuesday, 6 Mar 2018

Assalamu Alaikkum i want unsecured islamci interest fre loan for 25lakh for buying property house for my own use to live in chennqai please send details of your bank name and adress and what are the document you wanted from me and your term and condition share my whtaspp eight seven five four to one zero nine two seven

Junaid
 - 
Monday, 5 Mar 2018

Hi, I'm looking for an interest free loan of around 8 lakhs against our 3 BHK property in Bangalore. Can you please do the needful. You can also reach me to my mobile number 9994790307. Thank you

 

 

 

M K ZAMAN
 - 
Saturday, 3 Feb 2018

My suggestion is to avoid "Islamic Bank" in your publicity or articles as it is misleading. Indian authorities do NOT issue licenses for Islamic banks in India.

 

 

You can always use "NBFC run on Shariah-compliant principles" or "Shariah compliant cooperative society" which will be closer to the truth.May Allah bless your business. Ameen,

 

Habeebrahiman
 - 
Monday, 25 Dec 2017

ur giving home  lone

Imran
 - 
Saturday, 30 Sep 2017

I need a business loan to startup business so kindly help me out sir

moidin kunhi
 - 
Friday, 23 Dec 2016

I'm an NRI person, my 50lakh worth house and property mortgaged in sundaram finance, now its due is 17lakh I have to pay,I pay 25000rs every month. Now I'm in so critical even they are charging much interest also . if u anyone can help me obviously I will register that property on ur name and in one year I will clear and pay balance. Jazakallah

mohemmed shafi…
 - 
Wednesday, 14 Dec 2016

Assalam alekum sir myself md shafi iam suffering from cancer since 10 years but I had not left doing work I had 4 surgery before one year I had gone big surgery by grace of allaha now iam fine but for doing business iam facing financial problem I need help for my business iam having readymade garments business in the heart of the city I had shop plse consider my appeal .Thanks

mustafa
 - 
Sunday, 17 Jul 2016

I would like to a loan from ur society so what are the terms and conditions.

Abdul hakeem
 - 
Sunday, 15 May 2016

Marsha Allah a God blaseu

Abdul hakeem
 - 
Sunday, 15 May 2016

Plus send mobile phone numbers

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News Network
July 24,2020

Shivamogga, Jul 24: The protest by Accredited Social Health Activists (ASHA) under the All India Trade Union Congress (AITUC) entered its 14th day on Friday demanding personal protective equipment (PPE) kits and a salary of at least Rs 12,000 per month.

They have been protesting in different parts of Karnataka since July 10.

Staging a protest in front of the deputy commissioner's office, the ASHA workers complained of the government turning a deaf ear to their problems.

Clad in their signature pink saris, they raised slogans to demand appropriate salary for their work and the necessary equipment to protect them from the ongoing COVID-19 outbreak. 

They said that they worked tirelessly during the COVID-19-induced lockdown without any safety. The department only provided them with sub-standard equipment to combat the deadly virus. All they were asking for is a basic pay of Rs 12,000 against the current pay of Rs 6,000.

Prema, an ASHA said, "The authorities are praising our work, clapping for us and showering flowers on us but are not listening to our grievances."

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News Network
March 3,2020

Dubai, Mar 3: Abu Dhabi-based Indian retail tycoon MA Yusuff Ali has become the first Indian to receive Saudi Arabia's premium residency, his office said in a statement on Monday.

Yusuff Ali, 64, is the chairman of the LuLu Group, who was ranked the richest expat in the UAE by the Forbes magazine last year.

The permit, informally known as Saudi Green Card, grants expatriates the right to live, work and own business and property in the Kingdom without need for a sponsor, the LULU group said in a statement.

The introduction of the Premium Residency comes as a part of Saudi Arabia's Vision 2030 reform plan, which was announced by Crown Prince Mohammed bin Salman to boost the Saudi economy, the statement said.

Yusuff Ali said "obviously a very proud and humbling moment in my life. This is a great honour not only for me but for the entire Indian expat community and I sincerely thank the HM the King Salman, HRH Crown Prince Mohamed bin Salman and the government of Saudi Arabia."

"@Yusuffali_MA , an investor from India, after obtaining Premium Residency in Saudi Arabia: ''The Kingdom became an attractive investment destination due to the remarkable growth in economy," Premium Residency tweeted on Monday.

Yusuff Ali said he was sure that this new permanent residency initiative will further boost Saudi Arabia's image as one of the key investments and business hubs of the region as well as attract and retain new investors.

This initiative is targeting key investors and prominent personalities from various fields, including sports, arts & culture, who have played a defining role in the nation building process.

The Lulu Group owns and operates more than 35 hypermarkets and supermarkets in Saudi Arabia, which includes ARAMCO Commissaries and National Guards super stores.

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News Network
April 3,2020

Mysuru/Chamarajanagara, Apr 3: In order to prevent the transmission of Novel Coronavirus though overcrowding, the central jails in Mysuru and Chamarajanagar have begun releasing some of their inmates.

As many as 55 undertrials and convicts were released from Mysuru jail since the last two days, while 18 were released from the prison in Chamarajanagar. The jail inmates had been released on interim bail, for a period of two months.

While the undertrials were facing charges that involved a maximum prison term of seven years, the convicts were facing criminal miscellaneous cases of the family court. Most of the convicts released were prisoners who had not paid the maintenance costs ordered by the family courts in divorce cases.

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