Ayodhya yatra fails police crackdown on VHP

 The UP government did a great job of not allowing VHP and other Hindu saffron organizations to carry out Ayodhya yatra. Security forces turned Ayodhya into fortress and Police arrested hundreds of VHP and other saffron Hindu activists.

As the VHP was adamant to complete its 84 Kosi Parikrama Yatra, the UP government on Sunday said security arrangements would continue to check those trying to attend the banned yatra even as 1,696 persons, including Ashok Singhal and Praveen Togadia, were arrested in a crackdown.

"The tight security arrangements will continue in the state to prevent those trying to attend VHP's yatra, which has not been recalled by it..In the state, 1,696 persons including Ashok Singhal and Praveen Togadia, have been arrested in the crackdown," IG, Law and Order, RK Vishwakarma, told reporters.

In reply to a question he said that all those arrested will be put in the judicial custody for next 14 days and not be released as of now. "As the programme of yatra is till September 13, those arrested cannot be released. Preventive detentions will continue and those trying to participate in the yatra will also be arrested..," Secretary (Home) Kamal Saxena said.

In addition to the state police force, 11 company of RAF and 12 company of CRPF has been deployed in the state to maintain law and order, he said. "As VHP has announced protests on Monday district police chiefs have been asked to remain alert and ensure that law and order is maintained", the official said.

Prominent among those arrested included former Union minister of State for Home Swami Chinmayanand, Nritya Gopal Das of Ram Janmbhoomi Trust, Ram Vilas Vedanti, BJP MLAs Ram Chandra Yadav and Savatribai Phule and VHP's provincial coordinator Acharya Kushmuni. In Amethi, peethdheshwar of Sagra Ashram Abhay Chaitanya Mauni Mahraj was put under house arrest.

Temporary jails have been set up in districts of Faizabad (10), Barabanki,(12), Bahraich (16), Basti (2), Gonda (3) and Ambedkarnagar (5), which are on the yatra route. The state government had banned the yatra, stating it would not allow to set any new tradition.
http://ibnlive.in.com/news/vhp-yatra-1696-arrested-security-measures-to-continue-says-up-govt/417109-3-242.html
http://indiatoday.intoday.in/story/vhp-to-go-ahead-with-ayodhya-yatra-activists-arrested-uttar-pradesh/1/301185.html

Islamic finance courses create a buzz in Malabar

KOZHIKODE: Islamic finance is yet to take roots in the financial landscape of the country, but several Muslim management-run educational institutions in Malabar have gone a step ahead and have started offering specialized courses anticipating huge requirements for qualified personnel to man the future Sharia-compliant finance sector.

Courses on Islamic finance and banking have found many takers in the region ever since the state government set in motion its plan to start an Islamic financing institution two years ago. The growing student interest has been fuelled by hopes that the niche sector would offer job opportunities for those well versed in Riba-free Islamic financial and economic system.

 The Sullamussalam Science College at Areekode, affiliated to the Calicut University, has become the first college in the state to offer a three year degree course in BA Islamic Finance from this academic year onwards.

"With the state government itself leading the state's foray into Islamic finance, the sector is bound to throw open numerous employment opportunities for people who can manage Islamic financial institutions," said Prof N V Abdurahiman, manager of Sullamussalam Science College, adding that the proposal submitted by the college for starting the BA course in Islamic Finance was accepted for funding by the UGC under 'innovative programmes for teaching and research in interdisciplinary and emerging areas'.

The course, which is the first formal degree level programme in the state, has seen over 100 applicants for the 25 seats on offer this year. The formal inauguration of the programme is expected soon.

Dr A I Rahmathullah, chairman of the board of studies in Arabic said that the university, in another first, has also approved the proposal for starting an MA Course in Islamic Economics and Finance.

"Already several institutions had approached the varsity to start PG course in the field that prompted the board to consider the programme. We will draft the syllabus and curriculum as soon as we get the nod from the academic council," he said.

Institutions like Al Jamia Al Islamiya, a religious college, at Santhapuram have also been seeing growing interest for its postgraduate diploma in Islamic economics and finance (PGDIEF) course. It also offers IGNOU diploma courses in Islamic banking, Islamic finance and Islamic insurance.

"Already many graduates in the state have got lucrative job offers at MNCs in the Gulf offering sharia-compliant mutual funds and venture capital funds. Now with the sector taking roots in the state, the students can look forward to opportunities at home," said Mohammed Pallath, coordinator of the course at the institution.

The Elijah Institute of Management Studies in Thrissur is also offering a postgraduate diploma course in Islamic banking and management as an add-on course for their MBA students. There are many other institutions in Malappuram and Kozhikode which have recently started offering similar courses sensing the growing interest in the field.

Kozhikode: Islamic finance is yet to take roots in the financial landscape of the country, but several Muslim management run educational institutions in Malabar have gone a step ahead and have started offering specialized courses anticipating huge requirements for qualified personnel to man the future Sharia compliant finance sector.

Courses on Islamic finance and banking have been finding many takers in the region ever since the state government set in motion its plan to start an Islamic financing institution two years back. The growing student interest has been fuelled by hopes that the niche sector would offer job opportunities for those well versed in Riba-free Islamic financial and economic system.

The Sullamussalam Science College at Areacode, affiliated to the Calicut University, has become the first college in the state to offer a three year degree course in BA Islamic Finance from this academic year onwards.
"With the state government itself leading the state's foray into Islamic finance, the sector is bound to throw open numerous employment opportunities for people who can manage Islamic financial institutions," Prof. N V Abdurahiman, Manager of the Sullamussalam Science College.
He said that the proposal submitted by the college for starting BA in Islamic Finance was accepted for funding by the UGC under the 'innovative programmes for teaching and research in interdisciplinary and emerging areas'.
The course, which is the first formal degree level programme in the state, has seen over 100 applicants for the 25 seats which were on offer this year. The formal inauguration of the programme is expected soon.
Dr. A I Rahmathullah, Chairman of the Board of Studies in Arabic at the Calicut University, said that the university, in another first, has also approved the proposal for starting a MA Course in Islamic Economics and Finance
http://articles.timesofindia.indiatimes.com/2013-08-19/news/41424287_1_islamic-economics-postgraduate-diploma-course-malabar

Muslim share in govt jobs moving upwards

NEW DELHI: The intake of Muslims in central government bodies has increased by over 3% in six years, reflecting a visible improvement in the community's share of public sector jobs that the UPA marked out as priority after coming to power in 2004.

Government figures show that the recruitment of minorities in central government organizations stood at 10.18% in 2010-11, up from 6.93% in 2006-07.

 The 3% increase in employment across sectors in the last six years coincides with the directives that the Centre issued to ministries and departments that they should take special measures — publicity campaigns about recruitment drives and inclusion of minority members in interview panels — to boost minority presence in jobs.

Minority has been a thinly-disguised term for Muslims who form an overwhelming share of religious minorities.

Social activist and former National Advisory Council member Harsh Mander dubbed the increase as significant and credited the community for the success.

"It is the outcome of efforts on the part of community members to break out of restraints on social mobility they have been traditionally bound by," he said, adding the government contribution in the trend was smaller.

The percentage of minorities in total hiring across central government jobs was 6.93% in 2006-07. It went up to 8.23%, 9.90%, 7.28% and 10.18% in the following years. Sensing inconsistency, the ministry has called for review of the 2011-12 figures that stand at a dismal 6.24%.

The significance of increasing number of Muslims in central recruitment extends beyond mere job share. That they are joining paramilitary forces and railways, the largest public sector employers, in greater numbers could start a robust trend for future. The community's increasing share in the police force would also strengthen their confidence in security matters.

Minority affairs minister Rahman Khan said, "There is improvement in certain sectors while it is not satisfactory in others. We keep insisting to ministries that they should follow government circulars to beef up turnout and intake of minorities in recruitment drives."

The creation of minority affairs ministry, followed by the Sachar committee which gave a post-independence status report on the state of Muslims, swatted aside the reluctance that Congress had about playing a muscular Muslim card for fear of rival BJP launching its campaign of "appeasement".
http://articles.timesofindia.indiatimes.com/2013-08-19/india/41424784_1_minority-affairs-ministry-recruitment-drives-muslim-share

RBI allows non-bank Islamic finance firm

An estimated 177 million Muslims in India, the largest Muslim minority population in the world, are unable to use Islamic banks because laws covering the sector require banking to be based on interest, which is forbidden in Islam.

But some companies, especially in Kerala which has a large Muslim population and an overseas diaspora of workers who remit money back from the Gulf, are nevertheless trying to develop Islamic financial products outside the banking sector.

Cheraman Financial Services, based in Kochi, plans to offer leasing and equity-finance products under Islamic principles. It said it had obtained approval to operate from the RBI and would follow the Islamic ban on interest; it will not take deposits from customers.

"We propose to roll out the products by the end of August," a spokesman for Cheraman, formerly known as Al Barakah Financial Services, told Reuters.

He did not elaborate on the design of the products. Instead of interest, Islamic finance uses structures such as asset buy-backs and agency agreements to provide returns to investors.

The RBI did not respond to a request for comment on Cheraman's case. But its decision appears to open the door to the possibility of more NBFCs offering Islamic non-interest products in future, even though full-fledged Islamic banks are expected to remain banned.

RBI governor Duvvuri Subbarao, who will step down in September, has said Islamic banking is not possible in the country but sharia-compliant products could be delivered through alternative means.

LEGAL CHALLENGE

Last year, the RBI directed Kochi-based Alternative Investments and Credits Ltd (AICL) to stop its non-interest NBFC business almost a decade after the firm was launched. This prompted an ongoing legal challenge by AICL.

"The grant of an NBFC licence should have an impact on the AICL proceedings and there are good chances that the matter may get settled soon," said Suprio Bose, Mumbai-based lawyer at Juris Corp, a law firm which previously represented AICL.

"The event reflects a significant and welcome change in RBI's attitude towards sharia-based NBFCs and sets a precedent for others to follow suit."

However, many analysts think that unless and until full-fledged Islamic banks are permitted in India, an Islamic finance sector will find it hard to develop.

"I don't think there is going to be a rush for NBFC applications. RBI's attitude towards the sharia-compliance concept is yet to be tested," said Shariq Nisar, director of research and operations at Mumbai-based Taqwaa Advisory and Shariah Investment Solutions.

Running a sharia-compliant financial institution under Indian regulations is still difficult and other firms are likely to stay on the sidelines pending the success of existing schemes before deciding to join in, he added.

Islamic equity and venture capital products have attracted little demand in India and NBFCs could face the same fate, said Nisar. "NBFC business overall has been declining over the years."

The RBI issued guidelines for NBFCs in June, cracking down on debt issuance by an industry that relies heavily on capital markets to fund its business but has faced less regulatory oversight than banks.

According to central bank data, credit extended to NBFCs increased by 1.9 percent from a year earlier in June, compared with an increase of 43.9 percent in June last year. There are over 12,000 registered NBFCs in India.

A handful of politicians have been lobbying for years to start Islamic banking in India, but they have met strong opposition from bureaucrats in the finance ministry and banking circles. Some politicians, especially from the main opposition Bharatiya Janata Party, say they fear Islamic banking could be used by militants and might strengthen the hold of clergy over India's Muslim community. (Editing by Andrew Torchia)
http://in.reuters.com/article/2013/08/20/islamic-finance-india-idINDEE97J07L20130820

Owaisi gives warnings: On Hyderabad, saffron activities, poll alliance

Hyderabad, Aug 18: All India Majlis-e-Ittehadul Muslimeen (MIM) threatened to begin a massive protest if the government decided to announce Hyderabad a Union Territory or permanent capital following the bifurcation of Andhra Pradesh. 

 

MIM president Asaduddin Owaisi, the MP from Hyderabad, said the government would commit a blunder if it decided to act on such suggestions by some leaders from the Andhra and Rayalaseema regions.

Owaisi, who was speaking at a public meeting organised at the Khilwath playground here on Saturday night, said Hyderabad belonged to all irrespective of their places of origin and every resident is secure here. He said the city is a part of India and nobody can ask one to leave the city.

 

Owaisi asked the secular parties to chalk out proper strategies to deal with the growing saffron activities in the country. He said it is urgently required or could make the nation pay huge price in the future. The MIM chief also warned the Telugu Desam Party (TDP) against making any electoral alliance with the BJP.

 

Gujarat Chief Minister and BJP's chief of the 2014 poll campaign committee Narendra Modi's holding late TDP leader and Andhra Pradesh chief minister N T Rama Rao in high regards and meeting with TDP leaders during his recent Hyderabad visit has given rise to speculations that the TDP might inch closer to the BJP. Owaisi said the results of such deal were visible in 2009 and the TDP should have learnt from it.

 

Owaisi also took a dig at Modi while speaking, saying the MIM was ready for a debate with the latter on any issue. 

http://news.oneindia.in/2013/08/18/owaisi-gives-warnings-on-hyderabad-saffron-activities-poll-alliance-1285865.html