By Syed Khaled Shahbaaz
Hyderabad: The subject of economic empowerment of the Muslim community took center stage at the annual general body meeting of Secunderabad Cooperative Urban Bank (SCB) Limited, with a call for greater financial literacy and proactive other measures.
Prominent speakers, including MLC Amer Ali Khan, emphasized the need for the community to strengthen its financial standing in the face of growing challenges.
Khan, addressing the gathering, stressed the importance of economic strength. He pointed out that the community needs to overcome internal divisions on financial matters, particularly regarding Islamic principles on “riba” (interest). He called for a deeper understanding of these principles, ensuring that financial services are aligned with both religious values and modern banking practices.
Syed Zahooruddin, Vice Chairman of the Bank, presented a memento and outlined the institution’s achievements and its unique relationship with the minority community.
“Among the 52 cooperative banks in Telangana, our institution holds a distinctive bond with the minority community,” Zahooruddin remarked.
Prof. Mustafa Ali Sarvari of MANUU encouraged institutions, particularly madrasas, to deposit funds with the bank, highlighting the potential use of unclaimed interest for community development.
Dr. Shoeb Ahmed Khan, a nephrologist, called for informed financial decision-making, particularly in the realm of healthcare, noting that medical insurance could play a crucial role in protecting families from financial distress caused by unexpected medical expenses.
Bank Director Syed Ahmed Akbaruddin, noted activist Prof Anwar Khan, Director Madina Education and Welfare Society K M Fasihuddin, former Director Doordarshan Dr Shujath Ali Sufi, Media Plus CEO Syed Khaled Shahbaaz, Shamshad Quadri were also present.
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