Categorized | Islami Muashra, Mira road

Microfinance and Interest-Free Banking in Mira Road- An Introduction

Posted on 12 September 2015 by Webmaster JIH Maharashtra

September 12, Islamic Center, Mira Road

❇ Some excerpts:

? Islam is a complete system of life, not only certain forms of ibadat.

? Our responsibility lies in establishing the Complete Deen.

? We have become habituated to anti-Islamic practices. Instead, Islam instructs us to rectify these evil practices- including Interest

? Present-day financial products are instruments of deception and cheating where the Big Fishes swallow up the smaller ones.

? Islamic Finance is rigidly based on justice in the form of risk sharing of profit and loss and no investments would be made in anti-Islamic products like pornography.

? We need courage to implement Islamic Finance.
Eg. Sri Lanka, with an 8% Muslim population (18-20 lakhs) has implemented Islamic Finance with a 20% market share.

⛔ Conventional banking has not reached all Indians and the poor are anyway deprived of any institutional financial option.

? JIH has successfully started a Rahat Co-op Society in Usmanabad where poor people (both Muslims and non-Muslims) are being greatly benefitted.
Later, many big businesses also approached them so that their investment remains Halal. Hence, they started a profit-sharing mall by the name of Rahat Fresh?, an ethical Hospital ?, mobile shops ? and goat-supply ? to poor butchers. They are in profit alhamdulillah.

? This year, they are offering 20% dividend despite interest-free dealings mashaAllah.

? The credit society needs to be registered and paper work should be sound. Government rules are quite strict now in order to avoid malpractice.

??? 5000 initial members are required with a collective investment of Rs. 1 crore.

? Mira Road is also trying for it and has a target of 2000 members with a minimum initial investment of Rs. 100 per head.

? After the presentation and a detailed question-answer session, the audience overwhelmingly came forward and became members of this noble endeavor.

✨ Please be a part of this halal investment scheme and save yourselves from the ignominy of interest.

? Contact us at:
Islamic Centre, 12/13 Sheetal Tower, near Anjuman Mufidul Yatama, Naya Nagar, Mira Road

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  • mustaqeem saleh December 17, 2016 at 9:08 pm

    we need home loan but low of Islam

  • Mohammed Asad April 8, 2018 at 12:56 am

    I need home loan. I booked an flat in Mira Road, I am working in Saudi Arabia. Kindly help me. Thanks

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