It is the federation of mosques headed by the well wishers of Jamaat e Islami. The council came in to being in 1942 with P.A. Abdul Hakeem as the president and T.K. Hussain as the secretary. Later in 1996 it was registered as per societies act. The objectives of Kerala Masjid council are to bring up the muslims as a model society wedded to Islamic culture and discipline, turn them into good citizens of religious tolerance, moral awareness, piety and service mentality and spread the message as well as moral teachings of Islam. The activities of Kerala Masjid council include giving guidance for finding suitable locations for building mosques, increasing efficiency of administration and maintanance of mosques under the council making arrangements for distribution of Zakath and Fitr-zakath, organizing Ifthars, and spreading awareness against extravagance in weddings and dowry. The council also has reconciliation committees for disputes solutions, non interest funds, job opportunity schemes cottage industry and gives leadership for concerted resistance against social evils like liquour, gamble adultery and racilism. The Council also organises training programs for Imams, Khathibs and muadhins. One year course for Khathib training has been started at Santhapuram.

Pursuant to its statewide campaign against interest JIH Kerala took a bold initiative in establishing AICL in June 2000 demonstrating its firm commitment to address the sufferings of people affected by interest based finance system. Detailed study of the working methods of Islamic banks worldwide was undertaken and its relevance and limitations under Indian conditions and local banking laws and other ground realities were also considered before the formation of AICL.

Objectives:

The major objectives of the venture are:

•  Opening a venue for prospective investors who want to invest their earnings for a return other than fixed interest.

•  Functioning as a source of finance for entrepreneurs to be availed on a profit/loss sharing basis.

•  Undertaking business ventures and projects in profitable avenues.

FORMATION, LICENCES AND OFFICE

The Company was formally inaugurated on December 22, 2001 by then Chief Minister of Kerala Mr. A.K.Antony in the presence of a large gathering from the cross section of community, at the Town Hall, Ernakulam. The meeting was chaired by Prof. K.A. Siddique Hassan, the Chairman of the Company and Ameer –Jamat-e-Islami Kerala. The company received the formal approval as a Non Banking Financial Company on January 8, 2002 from the Reserve Bank of India and is also authorised to deal in foreign exchange.

The company operates at its self-owned office premises situated in the commercial hub of Kerala, Ernakulam and a regional office functions in the city of Kozhikode , in the northern part of the state.

Capital Structure

The Company's source of fund so far is its Share Capital. During the short span of four years the company was able to attract share subscription of about Rs 62 million, from about 650 individuals. The maximum individual holding is limited to Rs 5 lakhs and the minimum to Rs 10 thousand. About 75% of the share capital is NRI investment. The present authorised capital is Rs 100 million and it is planning to increase its subscribed capital further. The Company is also exploring possibilities of raising funds through deposits and has initiated the process for obtaining approval of RBI for the same.

Investments

All investments are, made under profits and loss sharing (PLS) basis. The investment made by the Company so far to the tune of Rs. 60 million is basically as equity participation in on going business and industrial ventures, promoted by people of proven credentials, both commercial and ethical. The business areas of these ventures include general trading, iron & steel industry, textiles and ready-mades, hospitals, rental buildings, educational institutions, ice cream industry pharmaceuticals, live stock trading, fishing boats etc., The minimum amount invested is Rs.200Thousand and the maximum is Rs.10 million per individual projects.

Three-tier machinery is in force for approval of investment proposals. Every proposal is primarily analysed by the Manager and then forwarded to an Appraisal Committee constituted by the Board, consisting of three members from the Board of Directors. After its review and detailed analysis the proposal then goes to the Board of Directors for final approval. The Board meets every month and formally approves or rejects the proposal and closely monitors the proposals through an experienced management team. Collateral security worth a market value of 100 to 150% of the amount is obtained for all the investment and a formal Participation Agreement is executed by the beneficiary, which ensures legal protection for the money invested by AICL. An Ulama Council consisting of eminent religious scholars confirm ‘Sharia' compliance of the products of the Company.

Performance

The Company has so far earned a gross return of 14% on its investment. After tax, statutory reserve and overheads a dividend of 6 % was distributed for the financial year 2003 – 04. Interim performance reports for the financial year 2004-05 are encouraging. The Company has also made foreign currency available to pilgrims of the Holy Hajj at competitive rates for the last three years.

Consultancy Division

A consultancy division of the company will commence functioning shortly to provide project consultancy, entrepreneurial training programmes, investment advices and conducting general awareness programme on savings, moderation in spending etc. Mr. K.M. Amanullah, Chairman, Kerala State Productivity Council will look after the operation of the division.

Charitable Activities

Indian Association for Islamic Economics (IAFIE) is an association for encouraging to study Islamic economics. The organisation was formed under the presidenship of F.R. Faridi in Aligar Univeristy on Sep.5 1999. The Kerala chapter came in to being on 25 th July 1999. Prof. T. Abdulla, prominent economist and former head of the commerce department, Calicut University , was the first president. The current president is Dr. P. Ibrahim, the head of the dept. of Economics, Pondicherry University . Dr. A.I. Rahmathullah ( Calicut University ), is the General Secretary.

OBJECTIVES

ACTIVITES

A seminar was organised in Town Hall, Calicut in 2000. In the function inaugurated by Dr. K. Ram, Dr. F.R. Faridhi (Aliged), Dr. Afsal Pirsada (Karnataka women's University), Dr. P. Ibrahim (Pondichery University) and K.M. Abdulsalam presented papers. Bimonthly workshops were organised for study in Islamic Economics.

The Forum was constituted in late 1980's in order to systematise the efforts J.I had been taking for the promotion of value based and Da'wa - oriented art forms and literature. When its activities slacked after the initial enthusiasm, Thanima was reconstituted in 2002.

While recognising the potential of the art to amuse and influence hearts and minds. Thanima intents to direct innate artistic and literary talents towards the promotion of values and morals in society. In the constant clash of virtue and vice, and truth and falsehood, Islamic art and literature should always take sides with and seek to strengthen virtue of truth.

Thanima operates under the supervision of J.I and is headed by an executive committee with a term of 2 years; Efforts are on to form local units for Thanima.

Activities

Thanima tries to foster Islamic awareness and perspective in the people with artistic and literary disposition and give them necessary training and produce good artistic works that are in synch with Islamic principles and values. The spheres of activities, for the purpose, have been classifieds into separate cells such as literature, studio, screen, drama, drawing of folk art, each of which has a convenor and an assistant convenor.