Who we are
Federation of Chennai Metropolitan Baithulmals We are working on interest free basis loans and mainly serving the poor section of the society. All the branches of our society are located in suburb and slums of Chennai where people belong to low-income group. This society induces the members for thrifts / savings and offers smaller amount loans on only service charge basis. The operational cost being proportionately charged from the members depending on their outstanding loans.
The Society is economically self-sustaining; but if we could manage to disburse larger amount of loans, the service charges would be competitive to the Government sponsored subsidized loans from the conventional banks and, more importantly, attract the general public towards principle and practice of Islamic banking and finance. So, far this society have provided interest - free loans, Education Fees to the Needy(Poor Peoples).
- Providing qualitative, academic, moral and religious education to all and muslims in particular and for that purpose establishing educational institutions.
- Establishing Madarassas and Tution centres.
- Aiding and assisting poor, old, sick, destitutes in preventive medical and sickness treatments and supporting their rehabilitation.
- Aiding and assisting in conducting marriages for needy Muslims; conducting re-marriages of desserted, divorcee and widows.
- Aiding and assisting in the employment of unemployed youths and giving monetary assistance to small traders and self employed persons.
- Receiving donations, Zakaths and to issue Zakaths and give medical financial, educational aid to needy Muslims.
- Creating awareness among the community people about backward class and minority aids by Government and to make all efforts to attain them.
- Helping Muslim backward boys and girls in getting employment in Government, Quasi Government and public sector undertakings including Army, Air force, Navy and Police Services.
- Assisting and helping Hajj Pilgrims in their Pilgrimage.
- Making all Muslims pious, religious, self disciplined citizens of India.
- Such other activities necessary for the furtherance of the objects of the Federation.
- Undertaking all the above activities by the Federation also.