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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(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

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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.
May I know the procedure about this.
Thanking you and looking forward to hear from you soon.

With Regards
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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,

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

Regards,
Shahid.
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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

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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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News Network
May 1,2020

Bengaluru, May 1: The Karnataka government on Friday issued a show cause notice to an IAS officer over his recent tweet about coronavirus-cured Tablighi Jamaat members donating plasma for treatment of other patients.

The officer, Mohammad Mohsin, was in the news last year after the Election Commission suspended him for trying to inspect Prime Minister Narendra Modi's helicopter during his visit to Odisha in April. He was deployed as a poll observer.

"More than 300 Tablighi Heroes are donating their plasma to serve the country in New Delhi only. What about? #Godi Media? They will not show the works of humanity done by these heroes," Mohsin said in a tweet on April 27.

A 1996 batch IAS officer from Karnataka cadre hailing from Bihar, Mohsin is currently serving as a secretary in the Backward Class Welfare Department.

The state government said the show cause notice has been issued to the officer in connection with his tweet.

"The adverse coverage this tweet has got in the media has been taken note of seriously by the government, given the serious nature of COVID-19 and the sensitivities involved," the notice, which was accessed by PTI, stated.

The government has sought a written explanation from the officer within five days for violating the All India Services (Conduct) Rules, 1968.

It warned of action against Mohsin as per the All India Services (Discipline and Appeal) Rules, 1969 if he fails to submit his reply before the deadline.

"The Karnataka government has made it clear that it would not hesitate to act even against powerful functionaries if their actions are damaging to the harmony in the state at a time when all are united in fighting COVID-19," a senior state bureaucrat said.

The Tablighi Jamaat, an Islamic missionary group, shot into the limelight early this year after thousands of its members who attended a congregation in south Delhi's Nizamuddin in March tested positive for coronavirus.

After attending the event, the group's members travelled to various parts of the country, with many of them carrying the virus.

Comments

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News Network
February 5,2020

Bidar, Feb 5: The police has intensified investigation into the 'sedition case' against the management and staff of a school here, where children are facing chare of insulting Prime Minister Narendra Modi and others, in the context of CAA, in a drama they staged on January 21.

The police again visited Shaheen School on Tuesday and questioned children and staff -- this time in plain clothes, after their questioning of children in uniform on January 28 drew criticism from some quarters, a school official said.

"Morning three police personnel came with two members of Karnataka State Child Rights Protection Commission. Later, the deputy superintendent of police H Basaveshwara joined them.

The cops were in civil dress," the official said.

The police have been questioning the children and staff about those who wrote the script and assigned to deliver specific dialogues.

Police have already arrested Nazbunnisa, the mother of one of the children, who had allegedly delivered the controversial dialogue and their teacher Fareeda Begum, who oversaw the event.

When contacted, the deputy superintendent of police of Bidar H Basaveshwara refused to comment on the matter saying that he was still investigating the case.

Meanwhile in Bengaluru, Congress MLA and former minister U T Khader slammed the BJP government in the state as well as the Centre for "filing sedition charges against people".

Addressing a press conference, he alleged that the Central and state governments were trying to suppress the voice of people in the country using law enforcement agencies.

Khader claimed that the two women who "depicted the problems they were facing" in the drama were booked under the sedition law. During investigation, the children were forced to sit at the police station, he alleged.

Comments

Ahmed Ali K.
 - 
Wednesday, 5 Feb 2020

Why No questions asked in Kalladka Prabhakar Batta school where the school childrens asked to show a demo of Babri Masjid demolition?

 

Why the police did'nt question the teacher team, Principal and the owner of the school??

 

because both schools owned by different people....!!

Indian Democracy.........................!!!!!!!!!!!!!!!!!!!!

 

 

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News Network
April 4,2020

Bengaluru, Apr 4: As calamity struck the nation in the form of coronavirus, many philanthropists have generously opened their wallets to sustain the urban poor, especially the migrant labourers in the city and elsewhere in Karnataka.

These individuals either directly or through organisations opened up their kitchens to ensure that no one goes to bed hungry in this distressing time.

The Bruhat Bengaluru Mahanagara Palike, the nodal agency to feed urban poor, responded positively to requests by these organisations and individuals to supply food to the needy on their behalf.

"We had been serving food through our Indira canteens, which we continue to do even now. However, many philanthropists and corporates have come forward to feed the needy," the BBMP joint commissioner Sarfaraz Khan told reporters.

According to BBMP, Indira canteens used to provide two lakh meals a day on normal occasions.

However, since the lockdown has been clamped, the number swelled by almost 50 per cent.

"On Thursday alone, we served 2.85 lakh food, which comprises breakfast, lunch and breakfast," a Palike officer said.

The major aid came from Jain International Trade Organisation (JITO) and Azim Premji Foundation.

While JITO is feeding around 22,000 people, Azim Premji Foundation is taking care of 20,000 people.

Sajjanraj Mehta, an office bearer of JITO, told reporters that his organisation has been providing packaged cooked food since March 27.

"We got in touch with Bengaluru Mayor M Gautham Kumar, Police Commissioner Bhaskar Rao and the BBMP commissioner B H Anil Kumar. According to their list, 27,000 food packets were required daily," Mehta told.

The JITO members have arranged vehicles of their respective businesses to transport food packets to different locations as part of the campaign named as 'COVID-19 manav seva'.

The organisation has also decided to utilise the kitchen of Princess Golf, a marriage hall on Palace Grounds here to prepare food.

Palike officials said on Thursday alone JITO supplied 53,000 meals.

"We asked them to cover migrant labourers in those areas where Indira Canteen could not reach. We mapped the cluster and provided them info. Now, they are distributing it there," they said.

Another organisation engaged in charitable work is ISKCON Bengaluru.

Ever since the lockdown, it has been working in various parts of India providing food to various people.

"We are providing materials such as rice, wheat flour, Daal, oil, vegetables with long shelf life, salt, sugar and spices. Each packet can sustain for at least 21 days," Madhu Pandit Dasa, president of ISKCON Bengaluru.

The organisation has set a target to cover at least two lakh people but so far it has reached out to 30,000 people including 25,000 in Bengaluru alone.

"We are feeding about 50,000 people in Delhi, with the Telangana government we are feeding about 40,000 people in Hyderabad, about 10,000 people in Ahmedabad in association with the Gujarat government," Dasa told.

According to BBMP, other organisations providing food to the needy are KMFY, TVS Group, Vimal Bhandari, Radisson Blue Atria Hotel, Hitech Ecowood, Mohammed Shajid, Prestige Group.

Wipro Ltd also pitched in to feed the poor by opening up its industrial kitchen infrastructure.

In a statement, Global Head- Operations of the company Hariprasad Hegde said the humanitarian crisis we are faced with as part of the Covid-19 crisis has multiple dimensions to it, of which the need to deliver cooked meals to the stranded migrant workers and other vulnerable communities is probably the most critical and immediate one.

Recognising this, Wipro has decided to use the industrial kitchen infrastructure in our facilities to provide cooked meals, he said.

This kicked off on April 2 with the delivery of 43,000 meals from our Bangalore facility in Kodathi to the government.

"We have made use of our own procurement logistics to source the food provisions. This is a collaborative process, with the government taking responsibility for the logistics of last mile delivery to the communities that need it the most,” he said.

In the case of Bangalore, the Karnataka government has come forward to provide this kind of complementary delivery support. We are reaching out to other state governments and local administrations for similar efforts." he said.

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