Kerala State Financial Enterprises Limited (KSFE), the only chit fund company owned by the Government in India, is all set to launch ‘halal chitty’ under the norms of Sharia
Sometimes one wonders if Kerala is an autonomous state or even a republic! It looks like the whole state is being converted into an Islamic set up. Blatant Islamisation of the state is going on. Vote bank politics targeting at the minorities vote is the cup of tea in Kerala. Now, Kerala State Financial Enterprises Limited (KSFE), fully owned by the Government of Kerala, is all set to launch ‘halal chitty’ under the norms of Sharia. It will be a part of NRI chit fund to be launched targeting at the vast NRK folks.
KSFE chairman Peelippose Thomas says, they are going to canvas subscribers from UAE to begin with and then to spread to other GCC countries. But Saudi Arabia and Iran are not in their road map now. Thomas says, they have to convince the rulers there that the KSFE chit fund is fully Sharia compliant. The halal chit will also try to target the subscribers from the non Islamic countries provided they prefer to stick to the religious laws as the way of life. There is no visible interest component in the chit fund. The repayment of installments is complex. Interest component is buried within the product. KSFE is the only chit fund company owned by the Government in India.
Peelippose Thomas says that NRI chit fund can be launched in Islamic countries only after bagging the Sharia Compliance Certificate from the forums of concerned clergy. CM Pinarayi Vijayan officially inaugurates the registration of the subscribers on June 12.
This is the continuation of Islamisation of all spheres of civil life in the state. A few years back the government of Kerala had made an attempt to launch Islamic Bank. It was challenged by BJP spokesperson T.G. Mohandas; after several legal proceedings it still remains a non starter. This is again another indication of Communist-Islamic nexus in the state.