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Saving, development
and cooperation is another name of
Islami Sharia Bank:
Maharaja Gajsingh
The first Islami Sharia Bank Starts
Jodhpur 18 Sep 2009. The former king of
Jodhpur Gajsingh inaugurated the first bank
of Marwar Sharia Cooperative Credit and
Savings Society Ltd., Jodhpur in the
premises of Maulana Abul Kalam Azad Senior
Secondary School, Kamla Nehru Nagar,
Jodhpur. The bank will be operated on the
basis of principles of Sharia.
Ex Maharaja Shri Gajsingh addressing to
the Audience
While inaugurating the bank established by
Marwar Muslim Educational & Welfare Society
former King of Jodhpur State said that the
Islamic system prohibits interest-based
transactions, therefore this bank working in the
framework of Sharia will be an exemplary
establishment of its own kind. He commended
that Marwar Muslim Educational Society has
started banking activities in addition to
its valuable contribution in the field of
education and community development, which
will benefit all sections of society. He
expressed his faith in the bank by opening
his own account in it.
The Chairman of the bank Shaukat Ali Ali
Ansari, who was presiding the inaugural
ceremony of the bank, informed that it was
registered under the central act, "The
Multi-State Cooperative Societies Act, 2002"
and registered in New Delhi and its
constitution had been endorsed by the
government. Ansari went on to say that
western countries are dominating economy
of the world for several centuries. Now,
Muslims are striving to mould their lives
according to the principles of Islam. This
bank will not invest in gambling,
intoxicants, lottery, speculative business
and other non-permissible business and
trade.
Maharaja Gajsingh inaugurating the bank
The Chief Advisor of the bank Dr. Rajiv
Kumar stated on the occasion that the
economic recession faced by the USA and
other Western countries nowadays has created
environment the world over for understanding
the nature and modalities of Islamic
banking.
The Chief Executive Officer of the MMEWS Mohammed Atique and its President
Shabbir Ahmad Khilji welcomed the chief
guest Shri Gajsingh, director of the Society
Qazi Mohammed Ayyub Ansari presented
traditional turban to him and the former
president Haji Abadullah Qureshi presented a
bouque.
Maharaja Gajsingh opening his account in
the Sharia Cooperative Bank
The inaugural ceremony began with the
recitation of holy verses of the Qur'an by
Zahid Ali Chundarigar. At the close of the
programme all participants, staffs of
various institutions of the Society and
dignitaries of the city joined Iftar Party
and the ceremony was concluded with the
prayers for peace and harmony of the city
and the country.
General Secretary of the MMEWS & Maharaja
entering the premises of Society
Chief Advisor of the Bank Dr. Rajiv Kumar
addressing to the audience
A view of the audience
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