Mohammed Ali Shabbir

Shabbir Ali inaugurates Seva Mutually Aided Cooperative Credit Society branch in Kamareddy

Kamareddy, February 11, 2022: Former Minister & ex-Leader of Opposition in Telangana Legislative Council Mohammed Ali Shabbir on Friday inaugurated the 4th branch of Seva Mutually Aided Cooperative Credit Society in Kamareddy in the presence of BMC President SEVA MACCS, Kamareddy Mohammed Abdul Qavi Bahelmi and other dignitaries.

Speaking on the occasion, Shabbir Ali said that the Human Welfare Foundation (HWF), another NGO Sahulat and Jamaat-e-Islami-e-Hind have taken a great initiative in setting up credit societies in rural areas to provide interest-free loans to small traders, vendors and others. He said access to credit, especially on a non-interest basis, would help in strengthening the rural economy. He said that small vendors, shop keepers, auto-drivers and others engaged in small and unorganised professions need small loans of Rs. 10,000 or even less. Timely availability of these amounts could revolutionise their lives and since they don’t need to pay any interest, they could save huge money, he said.

Shabbir Ali said it has been observed that the lives of thousands of poor people got ruined after they fell into the trap of private financiers who collect 10-20% interest. He said that the system introduced by Seva of providing interest-free loans of Rs. 10,000 would be of great help to the poor and middle-class segments.

He said that the interest is Haraam in Islam. Therefore, the Seva Cooperative Credit Society would be able to help the poor and middle-class by providing them interest-free loans. He said payment of Zakat is mandatory for all eligible Muslims and the categories of people like relatives, neighbours, institutions, etc., to whom it can be paid have been clearly defined. He said proper utilisation of Zakat could ensure economic empowerment of poor people. It should be done in such a way, the a person receiving Zakat this year should prosper and he should be able to pay Zakat in future.

Shabbir Ali appealed to the people to support the Seva Cooperative Credit Society by making interest-free deposits to help the poor people. On his request, many people, including some non-Muslims, came forward and made deposits of nearly Rs. 25 lakh on the spot.

BMC President SEVA MACCS, Kamareddy, Mohammed Abdul Qavi Bahelmi for the support and said that their Kamareddy Branch was the first one to get huge deposits on the very first day of its operations.

BMC President SEVA MACCS, Nizamabad, Ahmed Abdul Azeem, Mohd Mujeebuddin, TRS Kamareddy District President, Nawab (Khatar) and dignitaries were also present.

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