BeyondHeadlines News Desk
In a bid to offer recognition and felicitate Minority entrepreneurs who outshine in their profession, the Maaeshat Media Pvt Ltd (MMPL) organized All India Minorities Business Summit.
The MMPL is India’s first media house which covers stories on the economy of Minority communities. Throughout the year, MMPL rummage around for people who are carrying out their businesses splendidly and felicitate them with awards at the All India Minorities Business Summit. Maintaining its tradition of conducting annual Summit across different states of India, the 5th All India Minorities Business Summit was held at the Hotel Canopy in Bangalore on November 22, 2013.
The topic of the Summit was Economic Mainstreaming of Minorities: Connecting Business, Technology & Finance. The speakers were Hasan Abdul Karim Chougule, (CMD Qatar based Emaad Group), Mufti Barkatulla (Shariah Advisor, Llyods TSB, U K) Syed Mohamed Beary, CMD Bearys Group, Farook Mahmood, CMD, Silveline Group, Khalid Ali, CMD Multigain Services (P) Ltd. Khaleel Baig CMD Profishere (P) Ltd., and other minority business stalwarts.
During the discussion, Chougule pointed out that financially strong section of the Minority community should come forward to uplift the backward section of the Minority community. “It is right that the knowledge is power. The main reason of backwardness is illiteracy. The children and youth should be encouraged to pursue education. The affluent class should come forward to financial support the poor children of the society”, said Chougule.
“In my opinion, it is advisable to work always with the socio-commercial concept for educational institutions, where the investor should get returns. The concept of quality will work only if the sufficient funds are available. To get dual benefit, the promoters of the project should unanimously include a clause in the Article of Association that 25 % or 33 % of the income should be diverted for the charity to support the needy students. This will serve dual purpose, benefit to the investors and to the needy students,” Chougule further added.
The Entrepreneurs, Businessmen and Professionals from across India are invited to share their ideas. Also some of the leading personalities are felicitated for their valuable contribution to the society. This summit is a platform to connect and share respective business proposals. The tradition was started in the year 2009 and since then it has been pursued every year.
Danish Reyaz, MMPL director said, “There was a time when minorities were excellent professionals in leather industry, textile industry, copper and aluminium product manufacturing. With the advancement of technology, they failed to step forward with it and today are far behind.”
Following the discussion, the awards were distributed. While Shenaz Zaki Khaleeli (PHARMALEAF India (P) ltd. Technical Services director) bagged the Best Woman Entrepreneur Award 2013, Abdullah Akbar Ali, Trans IT mPower labs (P) director was awarded Entrepreneur Excellence Award 2013. Nawaz Sharief CMD Ammi’s Biryani awarded Best Entrepreneur Award 2013.Syed Yasin, computer scientist and entrepreneur, received the Outstanding Innovation Award 2013. The Corporate Social Responsibilities Award 2013 was presented to Muslim Industrialists Association, Bangalore.
On the occasion of award ceremony, Khaleel Baig, CMD Profishare, said, “There are 1000 plus listed companies that are Shariah Compliance on both Bombay Stock Exchange and National Stock Exchange of India. Every sectoral index on both the exchanges carries a wide range of Shariah Compliant Stocks giving investors a plethora of choice to build a suitable portfolio.”
Mufti Barkatulla, lecturer at Ebrahim College & Shariah Advisor Islamic Bank of Britain, UK, emphasized on the key issues of Islamic Banking. “The negative environment is created after using terminology of Islamic Banking and now its prospects aren’t encouraging. Therefore, we have to move cautiously and make an initiative from a grass root level. The two whole sale and insurance companies have been bankrupted in the UK because the ground realities were not suitable. I conceive whoever enters in the field of Islamic Banking must be well equipped with a long term planning and optimism. The prospect of Islamic Banking has been bright in Middle East as the people’s mindset and ground realities are completely compatible.”
Sajjad Khan, CMD Xotic Ventures, “Minorities are deprived of their rights and at this situation government is attempts to uplift the minorities. The government has introduced many schemes for small scale industries. But its benefits are not being propagated to the minorities. Through these types summit which have discussions based on the problems of the minorities, the common man aware of their rights.”
The programme concluded with the interactive session between the delegates and audience, followed by the vote of thanks by MMPL director Danish Reyaz.
