NRI?conference recommends formulation of NRI Development Corporation

[email protected] (S M Farooq)
February 15, 2012

Kuwait City, February 15: With more than 600 Non Resident Indians, business and finance experts and social leaders from Kuwait and some of Middle East’s top social leaders came together for the FEEL NRI Conference 2012 in Kuwait and deliberated on various issues related to expatriate Indians mainly their concerns on saving and investment.

Presented jointly by the Kuwait Kerala Muslim Association (KKMA) and the Foundation for Enhancing Expatriate Life (FEEL) the Conference titled "Beyond Remittance” highlighted the savings and investment related issues affecting the lower income group of NRIs.

The conference held under the patronage of Oommen Chandy, the chief minister of Kerala State and the chairmanship of M.M. Hassan, ex Minister for Non Resident Affairs of Kerala was the first ever NRI conference in the Middle East organized by a social organization.

Satish C. Mehta, the Ambassador of India inaugurated the Experts Dialogue Session held on Thursday as well as the first Middle East NRI Conference on remittance and savings organized at Ramada Hotel, Riggae, Kuwait.

The Conference began with an Experts Dialogue session on Thursday participated by financial experts, business executives and social leaders to review the role of government, financial institutes and social welfare organizations in fostering financial inclusion of lower income NRIs. The subject topic was presented by Sageer Trikarpur, chairman of KKMA and the NRI Conference Organizing Committee. He raised the concern of lower income group of NRIs that why even after 20 or 30 years of hard work an ordinary NRI is not able to save for an emergency, an important in life, and for his retirement?

NRIs despite their job or status do remit money regularly, most on a monthly basis. The money is routed through hundreds of banks and exchange companies to several thousands of households in India. Then what happens to it? Where is their hard earned money going?

The existing evidence of the patterns of remittance usage in India suggests that although the country receives a substantial amount of remittances from Indians living abroad, the bulk of remittances are being mainly spent on housing and everyday consumption expenditure, rather than into productive investment. Our Conference has reconfirmed this statement yesterday.

The speakers and panelists participated in the experts dialogue as well as in the plenary sessions pointed out that that the major reason for this pathetic situation is lack of awareness and financial literacy. NRI themselves and their dependent are not aware of the situation in its full seriousness and the government or other bodies never supported them in this issue. They stress the need for a behavioral change among NRIs. They should change their living and spending habits and start saving for his future by avoiding unnecessary expenditures, have a savings plan and to save regularly.

Banks and exchange companies have a role in this to collaborate with the government and channelized this scheme. Whereas the social organizations are the body to educate, mobilize and ensure that this program is success.

The speakers also found that the existing rehabilitation and pension schemes do not meet requirement of NRIs. Therefore, government, particularly the department of Non Residents has great responsibility for evolving a saving scheme for NRIs which is linked with a monthly saving and investment plan.

M.M. Hasan, the ex-minister for Non Resident Affairs and the chairman of the NRI Conference presided over the Conference. Mr. Nandakumaran P., the Managing Director of State Bank of Travancore was the Chief Guest.

Padmashree Dr. Azad Moopen, Managing director of DM Foundation presented the theme address at the inaugural session. Y. Sudhir Kumar Shetty, Chief Operating Officer of UAE Exchange Center delivered the keynote address. The plenary discussions held in two sessions were chaired by Noyal Thomas, Chief Executive and ex officio director of NORKA Roots and Mr. Sunny Mathews, Managing Director of Sefeena General Tradign and contracting Company.

Also joined in panel discussions held in two sessions were John Mathew, Deputy chairman of Arabi Enertech, R. Kuppanna, General Manger, Kuwait India International Exchange, K.N.S. Das, General Manager, Lulu Exchange, Pancily Varkey, Country Head of UAE Exchange, K.P. Paulson, Head, Strategic Risk Unit at Alahli Bank, Saleh Ahmad Al Salaeh, manager at Kuwait International Bank, E.D. Titus, Director of Bahrain Exchange co., John Simon, Marketing Manger of Al Mulla Exchange Co. and Rexzcy Williams, Director of Asset Avenues.

The conclusion ceremony was chaired by Mohammad Hilal, general manager at Nasser Al Sayer and Sons. Sageer Trikarpur, chairman of Conference Organizing committee summarized the conference recommendations. Munawar Mohammad and SM Basheer orchestrated the whole event. Abdul Fatah Thayyil, president of KKMA proposed vote of thanks.

Conference Recommendations:

1. The government should formulate an investment scheme for NRIs to promote saving habits. An NRI Development Corporation or similar may be created for mobilizing small savings from expatriate community; and the NRIs can directly contribute to this fund from their existing bank accounts. In view of the social cause of the fund, a percentage of contribution may be made from the government for the low income group of participants. The fund can be utilized or invested in government owned development projects, financial, agricultural, education, health or service related schemes and also invested in other development projects with the help of professional asset managers. In addition to retirement pension for NRIs, regular income should be paid to participants in a form of dividends from the investment.

2. Government should revise the existing contributory pension scheme by making it more attractive for the lower income group with the help of social organization and the media.

3. The government should provide support for NRIs intend to start up small and medium level investment projects by granting managerial grant, interest holiday or similar.

4. The NORKA Roots should act as a Nodal agency for coordinating these projects for NRIs.

5. The government should come up with a housing scheme for lower income groups.

The Beyond Remittance Conference was hosted by State Bank of Travancore and supported by Zain Telecommunications, Shifa Al Jazeera, Malabar Gold, Gulf Mart and Apsara Bazar and coorganized by Lulu Exchange, UAE Exchange, Kuwait India International Exchange, Bahrain Exchange and Al Mulla Exchange.

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Media Release
March 2,2020

Kuwait: State of Karnataka is enriched with Daasa culture, which had contributed immensely to its literature, culture, art & philosophy. Daasa tradition in Karnataka was part of the Bhakti movement which flourished from around 15th century and it extended considerable spiritual influence over the masses. Kuwait Kannada Koota, a socio-cultural association for the people of Karnataka in Kuwait, organized its annual Daasotsava on 14th February 2020 in remembrance of these saints, thereby displaying the rich cultural heritage of the state. 

The program started with a warm welcome address by Mrs. Spoorthy Kamath, convener of cultural committee. Divine invocation prayer by Mrs. Vasantha Ashok and Mrs. Sandhya Arun set the trend for the event. This was followed by lighting of the traditional lamp by the 2020 executive committee, comprising of President Mr. Rajesh Vittal, Vice President Mr. Sandeep Chabba, General Secretary Mr. Praveen Kumar Shetty and Treasurer Mr. Pradeep Rao. President, while welcoming the gathering, spoke about the importance of Daasas in Kannada literature & history and briefed about the series of upcoming programs. Cultural programs started with fancy dress competition by Koota children comprising of all age group starting from infants to elder kids. This program stole the show as the efforts & time invested by children and their parents were clearly visible. 

2019 executive committee was felicitated by the current committee for wonderfully managing Koota affairs & programs. This was followed by the release of Koota magazine “Marala Mallige", comprising of informative articles, drawings, poems etc., entirely contributed by the association members. Event’s main attraction “Vrindavana Leelavarana", a colorful dance drama spectacularly portrayed by 54 Koota children, was very well appreciated & received by the attendees. Association children who successfully completed 10th and 12th were felicitated as a token of encouragement. Executive committee gave away prizes to Kids who excelled in the stage competitions held earlier. Audience was treated to a divine and melodious Bhajan program conducted astutely by the ladies & men. Koota women performed Bhajan Kolata, along with ladies bhajan, in a well-coordinated manner. Vote of thanks was proposed by the secretary of Koota, thanking those who contributed for the success of the event. Another attraction was a quiz competition “Rasa Prashne", conducted efficiently between the programs, by Mr. Mahesh Shiramgond. 

The whole event was planned and executed astutely by the cultural committee under the leadership of Convener, Mrs. Spoorthy Kamath. Public Relations Committee, led by Mrs. Suparna Dambal, welcomed the members in a vibrant & colorful way, showcasing a beautifully erected divine mantap. The event was sponsored by Unimoni, LIC HFL, VSPL, Geetherb, Kotak Life Insurance, Joy Alukkas, Lulu Hypermarket & Total Environment. The program ended with a sumptuous satvik lunch, sponsored by the senior Koota member, Mr. Ramachandran Seetharaman.

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Media Release
January 27,2020

Riyadh: On the occasion of 71st Republic Day of India, Karavali Welfare Association Riyadh (KWAR) conducted BLOOD DONATION CAMPAIGN on the 17th Jan 2020 at KING SAUD Universities King Khalid University Hospital, Riyadh. 

This is one of KWARs Prestigious Humanitarian EVENT every year, as we are indebted to serve the society for a Great Cause.

The campaign began at 08:30 am with a theme of Republic Day Celebrations and went on till 3:30 pm. Irrespective of Friday being a weekend and holiday people came in good numbers to donate Blood. The Hospital Staff, The Doctors and the Blood Bank Technicians and others at King Khalid University Hospital were more than happy to serve all those who have participated in this campaign.

KWAR Thanks all the Hospital Staff especially Mr. Salman Baqsh for his introduction of KWAR to Blood Bank and all the arrangements for this campaign, without his support this could not been done. Dr. Zafar Mahmoud for his wonderful support during the campaign and Mr. Abdullah Al Saman for his outstanding Hospitality throughout the campaign. KWAR also thanks all the donors who came all the way voluntarily for this Great Humanitarian Cause. As a token of gesture KWAR awarded Certificate of Appreciation to all the participants.

And KWAR would like to thank specially Mr. Nasir, Representative of Blood Helpline Karnataka, who encouraged many donors and made them to actively participate and donate blood for this noble cause.

KWAR’s core activities was on display on the screen, with most of the Committee members were present at the venue to serve the donors. KWAR thanks all the members, the Executive committee and all those who took their valuable time to organize this event successfully and thank all our well-wishers who supported us for the BLOOD DONATION CAMPAIGN. We in KWAR wish every Donor and the participants a healthy life ahead, and we need everyone's active participation in all our Future events.

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January 28,2020

Riyadh, Jan 28: The celebration of the 71st Republic Day was held on January 26th by the Central Committee of the Indian Social Forum Riyadh at the Ramada Hotel Auditorium in Riyadh. People from different Indian states and different religious backgrounds were present during the event.

The program was inaugurated with the unity song, Saleem Moulavi– Regional committee member India Fraternity Forum/Riyadh inaugurated the program.

Social Forum Central Committee president Janab Harris Mangaluru chaired the program and welcomed the guests. In his presidential speech he described and uncovered stories of freedom struggle and participants of Indian Muslims for the freedom fight. He urged everyone to fight against unconstitutional Citizenship Amendment Bill which passed by Centre government. He said that the We will continue its agitation against the Citizenship Amendment Act (CAA) and the NRC and would not relent unless the Union government withdrew the Act.

Indian Social Forum Karnataka State Committee member Janab Mohammed Naveed delivered the Republic Day message. He said India was formed based on concept of ‘unity in diversity’ and it becomes every Indians’ responsibility to safeguard it. He expressed concern over CAA, NRC and NPR. Across India, students at other universities are against the Citizenship Amendment Act passed by Centre government.  The law offers amnesty to undocumented migrants from three neighboring Muslim-majority countries but only if they are non-Muslim. Critics say that by excluding Muslims, the law establishes a religious test for Indian citizenship, in violation of the secularism enshrined in India's constitution. The Indians, irrespective of caste, creed, religion and region have firmly resolved to oppose the draconian laws and fascist moves to debar the poor. Constitution granted to every person and citizen of India who are not ready to put them on a test of ideology of RSS and programs of BJP to implement the Brahmanist mind-set. He said that the police atrocities against CAA/NRC/NPR protesters had increased only in BJP-ruled States and  there were several loose ends in the police story about the incidents leading to the firing.

Eng Shahul Hameed – Coordinator of Tamil Nadu Islamic Federation, Dr. Jahangeer Ahmed - Assistant professor/King Saud university, Mohammed Rafi – Gen Secretary of India Fraternity Forum Regional Committee, Mr. Abdul jaleel– Vice President of Indian Islahi Center, Mr. Basha –Member of IFT Executive Council , Mr. Ajmal Hussain – Member of Pravasi Forum central Committee, Younus Wallan – President Humanity Forum Riyadh. All delivered the message on the eve.

Basheer Karandur, General Secretary of Social Forum Central Committee, welcomed the gathering and Social Forum Riyadh Tamilnadu State Committee President Jabir presented the vote of thanks. Abdul Basheer was master of ceremony.

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