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
April 3,2020

Mangaluru, Apr 3: The Dakshina Kannada district administration’s decision to ban use of private vehicles, excluding permitted categories, from Friday for effective implementation of lockdown, began showing results since morning itself.

Mangaluru City Traffic Police and Dakshina Kannada district police erected several pickets at vantage places on arterial roads to check those moving without a valid reason. Several two-wheelers were seized during the checking while a few car drivers were let off with a strict warning.

Assistant Commissioner of Police (Traffic), M Manjunatha Shetty, who was supervising a picket at Hampankatta, said that movement of private vehicles has drastically reduced in the city.

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News Network
March 10,2020

Bengaluru, Mar 10: Techies living in a Whitefield apartment block where the city's first Coronavirus patient was residing have been asked to work from home.

The Karnataka government is in touch with the heads of IT and ITES companies, some of which are said to have asked their staff to work from home.

Deputy Chief Minister Dr C Ashwath Narayan, who also holds the IT and BT Portfolio, said the government had directed the companies to explore giving their employees the work-from-home option.

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News Network
January 2,2020

Bengaluru, Jan 2: Prime Minister Narendra Modi on Thursday slammed states, which have not enrolled with the Pradhan Mantri Kisan Samman Yojana (PMKSY), saying that such petty politics has done great damage to the farming community.

"I expect that in the new year, those states which are not associated with the Kisan Samman Yojana will at least become a part of it this year," the Prime Minister said at a function in Tumakuru where he disbursed Rs 12,000 crore to six crore beneficiaries under the government scheme in one-go.

Also, he gave away the Krishi Karman Award to the selected farmers and distributed fishing equipment to the chosen ones on the occasion. Modi said political considerations by the state governments in implementing the PMKSY has caused severe loss to the poor farmers.

"Such politics has never strengthened the farmers. Our government understood your (farmers') needs, requirements and your aspirations and accordingly tried to implement the schemes," said Modi.

He further said his government never saw agriculture in fragments but in its totality. Claiming his government has ensured that the entire money reached the poor beneficiaries, Prime Minister hit out at the previous governments, when middlemen ruled the roost.

"There was a time when a rupee was rolled out (by the government) for the poor person, only 15 paise would reach him. The middlemen would pocket the remaining 85 paise. "Today, whatever money is dispatched from Delhi, the entire amount directly reaches the bank account of the beneficiary," he said.

He told the gathering about the various initiatives taken by his government to improve the agriculture sector such as completing the pending irrigation schemes, soil health card and 100 per cent neem-coating in urea.

Due to the initiatives of the government, agriculture production has gone up, he said. Speaking about measures in the fisheries sector, the Prime Minister said the sector has been promoted in the villages, financial help given to fishermen, modernisation of boats and building fisheries-related infrastructure have been done.

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