Indian Muslim Leading Newspaper, New from India, Islam, World
32 pages, Twice a month. Subscribe Now.  (RNI DELENG/2000/930; ISSN 0972-3366)

Since Jan 2000

Cartoons .  Special Reports . National  . Issues . Community News Letters to the Editor  . Matrimonials . Latest Indian Muslim Statements . Book Store ++

Subscribe Online

About Us

Online Book Store  

Jobs @ MG

Advertise on MG
Our Team
Contact Us

Muslim Matrimonials
Our Advertisers

Add to your RSS reader - Indian Muslim Islamic News online media web site

  Lastest Indian Muslim 
Statements & 
Press Release
Web (WWW) OR  
only MG

Tell me when the next issue comes online:






If you haven't seen the print edition,

missed it ALL

send me the print edition


Published in the 1-15 May 2005 print edition of MG; send me the print edition

An Islamic wealth management system

The Milli Gazette Online

Parsoli Corporation, an Ahmedabad-based public limited company which was completely wiped out from Gujarat during the 2002 riots, on Wednesday relaunched the company. 

The company also announced its unique and specially designed 'Islamic Wealth Management System'. 

"This unique system has Islamic Stock Broking, Insurance (Takaful), Islamic Equity Index as some of the tools for wealth maximisation for Muslim investors which is strictly in line with Islamic beliefs," Zafar Sareshwala, CEO, Parsoli Corporation said on 14 April. 

Established in 1991 in Ahmedabad, the company had lost its entire client base during the post-Godhra riots, Sareshwala said. 

Ahmedabad has been chosen to launch its unique wealth management system because Muslims in Gujarat have the highest per capita income and are among the most educated as compared to other states of the country, he said. Moreover, India has about 200 million Muslims and a lot of untapped Muslim wealth is a huge market for our company, he said. "Our company would open similar centres in Mumbai, Chennai, Kolkata, Hyderabad, Delhi, Kanpur, Lucknow and other cities of India having Muslim population of over three lakh," he added.

Under the IWMS, Parsoli offers its clients the option to trade in listed 'Shariah' compliant stocks through Islamic stock broking, Sareshwala said. 

"We also intend to provide insurance products to vast majority of Muslims who do have these products," he said adding, the company proposes to have a strategic alliance with some insurance companies and tailor-made schemes that are 'Shariah' compliant. 

Our company is listed on Mumbai and Ahmedabad Stock Exchanges and is also an RBI registered full-fledged money changer, he said adding, Parsoli UK is a 100 per cent subsidiary of this company, which conducts similar business in European countries.

Parsoli, in collaboration with IBF-Net, has compiled Parsoli-IBF.Net Equity Index, India's first and only Islamic Equity Index, comprising the most liquid stocks of 'Shariah' compliant companies that are registered on the National Stock Exchange and Bombay Stock Exchange.

Subscribe to the PRINT edition NOW: Get the COMPLETE picture
32 tabloid pages choke-full of news, views & analysis on the Muslim scene in India & abroad...
Delivered at your doorstep, Twice a month

Latest Indian Muslim Islamic News


Get Books from India at cheap attractive ratesArabic English High Quality translation

Help Relief, Welfare, development work in India - Zakat

Read books on Indian Muslim Islamic topics only on MG bookstore !

Subscribe 2 MG print edition | Muslim Educational Loan AidContact Us | Muslim Baby Names | OutreachIndia | Suggestions | Muslim  Islamic greeting cards

Bookmark The Milli Gazette

Privacy PolicyDisclaimer  Copyright 2000-Present  Publishers: Pharos Media & Publishing Pvt Ltd, New Delhi, India