Saturday, September 16, 2006

 

Towards opening an Islamic Bank in India

12 March, 1997

Dear Mirza Saheb, As Salaamualaikum wa Rehmatullah

May I give you a précis of some idea of how to proceed with any financial project in India? Abu Dawood’s first choice of opening a full-fledged Islamic Bank would require lot of leg work, without any certainty of success. New Commercial Banks have been recently licenced, but the parties had first built up good stakes in India. Besides, any Muslim project is bound to be doubly handicapped, unless some sweeteners by way of investment interests are first offered. In the case of a Kuwaiti organization, since Kuwait does not have reciprocal banking protocols with any other country, it could come as an argument against granting banking facilities to any Kuwait Bank. Even, Citibank people when informed by Abu Dawood that KFH is interested in their own bank; had politely asked him to clear this with political authorities and that there is some sensitivity towards Muslim interests ( which, of course, is an open secret)

Still at the moment, one Muslim Minister, Mr. C. M. Ibrahim, from Bangalore, is the right hand man of Prime Minister Deve Gowda and I can approach him through a personal friend of mine, whom he visits here in Mumbai, whenever he passes through. For this I may either have a first meeting with him or then try to fix a second meeting with Abu Dawood. To clear my bonafide, it will make things convenient if Abu Dawood arranged to send me a letter as a friend of the Bank to discuss the specific matter with the Minister. This is, of course, without any commitments on either side.

The second level of activity, that even Citibank recommended, was to go into a Non-Banking financial limited liability company, and the preferred opening given by Government is in Mutual Fund field. KFH can join hand with some US or UK institution with strong Mutual Fund Management exposure and both can then open up here. The Mutual Fund operation needs 3 companies. 1. Trustees 2. Mutual Fund (the operating company) 3. The Assets Management Co. (The Assets Management Co. Needs expertise to run the portfolio). If you need more details, I will send you further literature.

I have gleaned from my talks with Abu Dawood, that he requires 3 things from his joint venture Indian counter part, 1. He should have sufficient means, like Tata, Birla and good reputation. 2. He should have political clout 3. He should be a committed Muslim. I have already short listed a few people like Sherwani’s from Allahabad, some others from Madras and Bangalore. (None of the present firms like Al Ameen, Barkat, Muslim Fund, who are engaged in Islamic financial services, according to me, are qualified.) I will start the process of contacting others, only when I get a firm go-ahead from you.

You had mentioned about your pending visa. If you find other proper, you may directly write or phone Mr. Inder Kumar Gujral whose address and phone details I write below:

Mr. I. K. Gujral, M.P. (Rajya Sabha), UNION MINISTER OF EXTERNAL AFFAIRS
4AB PURANA QILLA ROAD
NEW DELHI - 110011

#251

 

Sunil Dutt - the only Congressman to resign his parliament seat over Babri Masjid demolition

Tuesday, March 11, 1997

Why did they not speak before? Why are they speaking now? The innocent naiveté of the stock question is not easily apparent to all and sundry. But it derails the impact and importance of some of the late speaker’s briefs in political field. After S. B. Chavan, it is now the turn of Sunil Dutt, who had kept a gentlemanly silence while Congress was being irreparably damaged by a few self centered power-hungry manipulators. At least Sunil Dutt’s silence can easily be deciphered. He was the only Congress MP that tendered his resignation after the Babri Masjid demolition and the riots and police brutality in its aftermath. He had not envisaged the vindictive and ruthless nature of his adversaries, whose blatant misuse of power at their command to punish him for his ‘intemperance’, was to reduce him to a pitiable wreck. And this is all common knowledge. Still some wise people ask the stock question: why did he not speak earlier on? Why is he is speaking now? Rao and Pawar in power had unleashed on the people, a governance which was more diabolic and disruptive than the much maligned period of Indira Gandhi’s emergency.

#250

 

HIDDEN CHARITY

9 March, 1997

The Editor
The Observer
Mumbai

Sir
Farzana Versey in her letter (9/3) has achieved where Madhuri Pai inadvertently failed (Concern, 2-8 Feb.). She was able to give belated credit to her maternal uncle’s estate for the grand donation of ten lakhs. I am sure she must have been instrumental in arranging for the donation to Spastics Society for the salvation of her departed uncle’s soul and not for any publicity; for as a professed Muslim she would certainly know that the Prophet always preferred charity when the left hand did not know how or whom the right hand helped.

 

US veto at the UN - a slap on the face of world opinion

11 March, 1997

The Editor
The Daily
Mumbai

Dear Sir

Each time, US uses its veto against Palestinian demands and in favour of Israel, it bleeds.

The overall US position is that UN is not the forum to fine tune responses that a tangled affair like Arab- Israel calls for. It is therefore, basically the failure of US's own diplomacy that drags the matter to the world forum. If President Clinton could have foreseen adverse Palestinian response to any attempt to build Jewish settlements in East Jerusalem, which is not very improbable, and if so, then he is unnecessarily tarnishing his own country's credit in the world, after investing so much goodwill into the resolution of Palestine-Israel conflict. Vetoing a UN resolution, and that too sponsored by its own European allies, is, as always, a slap on the face of world opinion. A very grave insult indeed.

Yassar Arafat would not have to approach the UN at every turn, if the machinery to implement Palestine-Israeli accord had more teeth. On the other hand, if Arafat has gone on to UN with a view to strengthen the Clinton administration's hand in curbing Israeli intransigence, then the attempt has back fired. Jerusalem's status in international legal terms is still undecided and the US has all along been very scrupulous in sticking to the legality of the matter. It is therefore surprising that it has shown so muted a response to Israel's usurpation of Arab properties and plans to build Jewish settlements in that part of Jerusalem which Palestinians have, more or less, resigned to accept, as possibly its part of the eventual capital of the future State of Palestine.

#248

 

Indrajit Gupta's anti-coalition politics

Saturday, March 8, 1997


Mr. Indrajit Gupta has surpassed S.B. Chavan by attempting to run the Home Ministry by issuing Press statements diametrically opposite those of his own coalition partners. His compulsion to throw the gauntlet has political overtones. It is observed that of late, the Left has been flexing its muscles; that hints at some hidden grand plan. Its vocal pressure on Budget proposals, the mammoth gathering marshaled in Patna, the 10,000 strong mob going on a rampage recently near Mumbai, and now Mr. Indrajit’s Gupta’s public feud with his own Ministry colleagues, are all foreboding of some future moves. The Left will find to its dismay that the public mood will certainly turn against it, if the United Front government is threatened.

#246

 

A PITCH FOR MUSLIM MAJLIS E MUSHAWARAT

Friday, March 7, 1997

The recent Mumbai Municipal Corporation elections again repeated the same pattern of polarization of Muslim votes that had given 2 previous victories to Sena-BJP alliance in Lok Sabha and Assembly elections. The breaking of moorings with Congress was certainly the top-of-mind grass-root Muslim obsession, but the vote failed to form a positive and cohesive factor, that could have easily made inroads into the successes of the Sena-BJP alliance, as Muslims did have the numbers to achieve an impressive showing.

The field organisations who traditionally are active in forming public opinion, had once again failed to inspire any confidence within the community. Besides, they came out with differing assessments and preferences. Ulama Council which had shown some single-mindedness in previous elections miserably failed to achieve any consensus within their own ranks and damaged its credibility in appearing to show favoritism to individuals, even though its recommendations were most well-considered. Jamat e Islami and Milli Council, both had taken leave of absence. The result was the further strengthening of the Fascist forces and complete rout in secular arena. The Samajwadi Party did make some impressive gains, but would have doubled their tally, if there would have been unity in secular and Muslim ranks.

The general, country-wide trend for the future, is favouring Sangh Parivar and we will have to blame ourselves if we do not make a last ditch attempt to stem the Saffron tide. We are writing to you today, to seek your opinion, guidance and cooperation in the formation of Muslim Majlis -e- Mushawarat, Maharashtra. We have held some consultations, and there appeared to be a consensus towards desirability of forming a state level body to bring all organisations in Maharashtra together, not only for the future challenges in the state, but to contribute and influence the country level strategies to confront the menace posed by fascist forces. Mumbai is the power-house of the country and all major All India movements get their crucial backing from Mumbai. While Muslims all over the country are in serious disarray, the lead given by Maharashtra could come as a fresh breeze for the community.

#244

 

STRANGE ENCOUNTER WITH URDU WRITER RAJENDER SINGH BEDI

March 5, 1997


The Editor
The Times of India
Mumbai


Though Deepak Hiranandani had to go out of city limits to enjoy strange landmarks to reach their destination (Rocky Trail ,5/3), years back, while trying to find late Rajendra Singh Bedi’s residence at King’s Circle to invite him to preside over Anjuman -e- Urdu function at Sydenham, we had a very unusual experience. Mr. Kaifi Azmi had not given detailed address and asked us to proceed to King’s Circle and assured us we’d have no difficulty.

With several streets spreading out from the hub, we were at a loss as how to proceed. Providentially it started to drizzle and we hurriedly took shelter with a grocer. When we enquired about Bedi Saheb, he asked us to wait till the drizzle stopped, and he would send his man to show us the residence. We were impressed. Our guide turned out to be delivering coal with a sack on his back and we blindly followed him to the back door of Bedi Saheb’s kitchen. Bedi Saheb was there with only his kuchchha, munching on some snack, when we introduced ourselves. He was taken aback, but quickly recovered asking us to come through the front door. So eventually we did find him through our coal-delivering guide. But we can never forget our unusual first encounter with the great Urdu writer.

#242

 

MUMBAI'S TRAFFIC BLUES

4 March, 1997

LETTER TO THE EDITOR

Sir,

The BEST takeover of Limozine bus service should be welcomed as the introduction of a First Class for the bus traveling public. As it is, Railways did have First Class service for over a hundred years. So just because earlier politicians and administrators had no imagination or courage, the present breakthrough in providing should be judged on its merit and not condemned for reasons of party politics. The one- time private car luxury had become sheer necessity due to inadequacy of alternate transport facilities. Now the inadequacy of roads and parking places and the limitless proliferation of fume-spewing cars on choked roads, make private cars a menace. Any meaningful effort to introduce structural innovations that may catch on and voluntarily convince car-owners to leave their homes without their cars will be of vital concern to the public, though not to some politicians whose interests might have been compromised.

Another voluntary effort that could utilize all the seating capacity of private cars, is promotion of a Car / Commuter Club, where voluntary agencies like Rotary could enroll both commuters and car owners who can be matched to see that cars on their daily commuting run may offer lifts to, say -‘Rotary sponsored’ - commuters, at appointed points on arterial roads. Traffic Department with WIAA and other social groups could join together to work out such a scheme, if a major grid-jam on Mumbai road is to be avoided.

#241

 

Anand Patwardhan's documentary: 'Ram ke Naam'

3 March, 1997

The Editor
The Afternoon FAX:2870371
Mumbai PHONE:2871616

Sir,

The televising of Anand Patwardhan’s documentary, ‘Ram ke Nam’, last Sunday (2/3) , on national television, under court orders, goes to prove how effective and powerful is the subjugation and subversion of the nation by a small percentage of well organised, well funded and highly motivated minority. The rise of BJP and the Sangh Parivar blitz is a direct result of the failure of Congress leadership to grasp the challenges that our multi-polar, multi-ethnic society faces, once the binding force of the central unity is dissipated by the corrosion of corruption and top-heavy elitist governance. The unbridled sycophancy had completed the rot.

In their brute lunge for power, L K Advani and company sacrificed all notions of legality and propriety, justice and fairplay. Muslims were just a convenient scapegoat. The alternative offered, is itself so burdened with injustices, dangers of totalitarian undemocratic governance and its historical anti-people ethos, that it cannot long suppress the people’s longing for the second liberation.

#238

 

Reflection time for Congress

27 February, 1997

The Editor
The Afternoon
Mumbai

Sir,

Samajwadi Party’s strong showing in the recent Mumbai Municipal Corporation election sends out several messages to political parties. For Congress, it is a message not to take people for granted. Its acts of omission and commission have robbed it of the support of a wide spectrum of constituencies. One by one, it lost touch with its supporters, nay its own ethos and petty-minded so-called leaders, in their individual obsession for power grab, have rendered Congress a sorry skeleton of its majestic past. It will be missed, but none of the present leadership deserves any sympathy. On the contrary they deserve their banishment into oblivion.

For Shiv-Sena/BJP, the election is a message that but for the disarray in the opposition, they could not have overcome their absolute non-performance. On all counts, Maharashtra had been slipping. The state that is supposed to be the power-house of the nation is gradually losing all its advantages. As if it is being run by local Shakha Parmukhs, who are interested only what is coming to them. Shiv-Sena will have to pull itself up with its boot strips and work for people. Food, housing, roads, agriculture, industry, power sector, infrastructure--- the list is long and forbidding and there is no time to lose in back-slapping. Maharashtra should go on war footing, if Shiv-Sena’s rule is not to be remembered as a flying visit of Nadir Shah.

For Samajwadi Party, the message is clear that they have to hold their horses and forge better understanding with their alliance partners. They are the legitimate leaders of the underprivileged and unless they inspire a sense of fairness and magnanimity in their dealings with their comrades, they cannot build on their current success.

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