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Call for a ‘minorities bank’..

New Delhi: In a press conference organized by Minorities Action Group, Qari Muhammad Mian Mazhari, chairman of the National Minorities Development and Finance Corporation (NMDFC), released the resolutions passed during its meeting on the educational and economic development of minorities.

In order to solve the educational and economic problems of Muslims, the convention demanded establishment of Indian Minorities Development Bank (IMDB). For this purpose it demanded the government to instruct Reserve Bank of India (RBI) to issue the license for the bank. The resolution said that the government should contribute 40 percent of the proposed bank’s capital. The remaining 60 percent will be met by the minorities.

CM Ibrahim, former minister, said that thousands of crores of rupees are lying as interests in the ledgers of Muslims in Kerala, because Islam makes interest unlawful. If government gives license for Minority Bank, there will be no difficulty in depositing money. He further said while referring to the proposed bank that if the government does not contribute 40 percent, and just gives the license, we will raise the amount on our own. Mian Mazhari has demanded a sum of Rs 1200 million crores to be incorporated in the 10th Plan which is being finalized for the upliftment of minorities through various development schemes introduced by the government. He criticized national banks for being unhelpful to minorities. That is why the demand is being made to set up Minorities Bank.

Other demands of the convention included: Grant of Rs 5000 million for the modernization of madrasa education, enactment of laws for the security of minorities’ educational institutions, allocation of Rs 600 crores for area-intensive programme, increase in the corpus of Maulana Azad Education Foundation from 5000 million 12000 million, allocation of Rs 10000 million for the financial support of the Central Waqf Council, establishment of hostels for minority students, activation of the Community Polytechnic Scheme in 141 minority districts in the 10th 5- year plan, and allocation of Rs 1000 million for scholarship grants to minorities on the basis of talent. A resolution was also passed for the development of Unani system of medicine.
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