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 14,2020

Bengaluru, Jul 14: The Karnataka government on Tuesday made changes to the Land Reforms Act 1961 through an ordinance to allow non-agriculturists to buy and own farmland for farming.

“The Land Reforms Act has been amended through an ordinance and notified after Governor Vajubhai R Vala gave his assent to it on Monday night,” a Revenue Department official told media persons.

It now permits non-farmers to buy farmland and grow food crops. But they can’t use it for other activities.

“Sections 79 A, B and C of the Act have been repealed, paving way for bona fide citizens to invest in farmland and take to farming as a hobby, passion or additional occupation, which is rewarding,” the official said.

The amended Act will enable the state to attract investment in the farm sector and boost food output. The farm sector’s contribution to the state’s gross domestic product (GDP) has been less than the manufacturing and services sectors over the last two decades.

Criticism by farmers, the Congress and the JD(S) since the cabinet approved changes on June 11 forced the state government to retain section 80 of the Act, with an amendment, to prevent sale of dam water irrigated farmland.

“The ordinance has also added a new section (80A), which says relaxations under the Act will not apply to land given to farmers under the Karnataka SC and ST (Scheduled Caste and Tribe) Act 1978,” the official said.

The changes permit mortgage of farmland only to the state-run institutions, firms and cooperative societies specified in the Act. The ordinance also makes legal cases pending in courts against the sections amended redundant as the new Act addresses the concerns raised in them.

“Besides generating substantial revenue for the state government, the Act will now allow farmers who find the occupation non-remunerative and risky due to droughts/floods and labour shortage to sell their surplus land to urban buyers,” the official said.

Ruling BJP Rajya Sabha member KC Ramamurthy from Bengaluru said the amended Act would allow any citizen to buy farmland.

“Though hundreds of people petitioned successive governments for the past 45 years to abolish the ‘draconian’ sections, they were ignored. I compliment Chief Minister BS Yediyurappa and Revenue Minister R Ashoka for the decision to allow everyone to buy farmland irrespective of their occupation or profession,” Ramamurthy told media persons.

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News Network
February 9,2020

Thiruvananthapuram, Feb 9: Kerala has sanctioned the setting up of 28 fast track courts for speedy trial in rape cases and other cases registered under the Protection of Children from Sexual Offences (POCSO) Act.

State Social Justice and Women and Child Development Minister KK Shailaja said the state government has decided to set up POCSO courts to ensure that the culprits get the punishment they deserve. She said the decision has been taken in the wake of rising violence against women and children.

"The Union Law Ministry has recently sanctioned the opening of 28 POCSO fast track special courts in Kerala at the request of the state government. The project will be implemented jointly by the High Court, Law and Home Departments under the leadership of the Department of Women and Child Development," the Minister said.

The four courts are alloted in Thiruvananthapuram district, three in Thrissur and Malappuram districts, two each in Kollam, Kottayam, Idukki, Ernakulam, Palakkad, Kozhikode and Kannur districts.

The Minister informed that POCSO courts are jointly established by the central and state governments and according to the High Court data, 12,234 POCSO and rape cases are pending in the state.

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News Network
February 4,2020

Bengaluru, Feb 4: The possibility of defeated MLA CP Yogeshwar being inducted into chief minister BS Yediyurappa’s cabinet is causing ripples within the ruling BJP, with many legislators, especially from Kalyana-Karnataka region, raising a banner of revolt.

Several MLAs led by Surapur legislator Narasimha Nayak, also known as Raju Gouda, held a meeting at the Legislators Home on Monday and voiced their opposition.

"When there are more than two dozen MLAs aspiring for a cabinet berth, making a former MLA a minister is beyond logic," Gouda said. "We will convey our feelings to Yediyurappa and state BJP president Nalin Kumar Kateel." Murugesh Nirani, Paranna Munavalli, Rajkumar Patil, Dattatreya Patil Revoor, Basavaraj Mattimud are among others who attended the meeting. MP Renukacharya, political secretary to the CM and Honnali MLA, was also present at the meeting. "Some more MLAs will join us when we meet again tomorrow," Gouda said.

The MLAs highlighted the issue of caste and regional imbalance in the council of ministers to further their cause. With four from Bengaluru and three from Belagavi district set to take oath on February 6, the share of MLAs from these districts in the cabinet will rise to seven and five respectively. Currently, 16 districts have no representation.

Sources say Yediyurappa and BJP’s national leadership decided to reward Yogeshwar with a cabinet berth for his "active" role in getting 17 Congress-JD(S) MLAs to resign and join the BJP, enabling the party to grab power. The party also believes he has the potential to become the Vokkaliga face of the BJP in the Old Mysuru region, where the party’s organisation is weak.

If Yogeshwar is inducted, he will be the second former MLA to make it to Yediyurappa cabinet after deputy CM Laxman Savadi, who lost the 2018 assembly polls. Several party MLAs were unhappy with Savadi’s elevation and are now upping the ante against the party leadership.

"Let Yogeshwar be made Rajya Sabha or council member. We have no problem. But making him minister is not acceptable. If they want to make defeated MLAs ministers, then why not AH Vishwanath and MTB Nagaraj, whose sacrifices brought BJP to power?" said Gouda.

Reports say Yediyurappa has promised Vishwanath and Nagaraj, the disqualified MLAs who lost the bypolls, that they would be made ministers in June. Both met Yediyurappa and secured this assurance. The two were demanding that they be inducted into the cabinet on Thursday.

Meanwhile, Vijayapura MLA Basavanagouda Patil Yatnal urged the CM to evaluate the performance of existing ministers and drop those found non-performing. "Many ministers don’t even come to the Vidhana Soudha. What is the use of having such ministers?" he asked.

Yediyurappa also continued to face pressure to induct Athani MLA Mahesh Kumatalli into the cabinet. The Jarkiholi brothers, Ramesh and Balachandra met Yediyurappa separately on Monday with a request to make Kumatalli, their confidant, a minister.

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