Century old Muslim Co-Operative Bank Ltd holds business meet, launches ATM card
3 min read
Mysuru: Deputy commissioner G Lakshmikanth Reddy and MLA Tanveer Sait jointly inaugurated the Business Meet and launched ATM Card facilities of The Muslim Co-Operative Bank Ltd at its head office opposite Old RMC, New Sayyaji Rao Road on Saturday.
President of the Bank and former Corporator K C Showkath Pasha presided over the function.
Deputy Commissioner Lakshmikanth Reddy expressed his happiness over the Bank serving since 109 years and greeted the Managing Committee for taking care of the needs of the Share Holders, Depositors and customers of the century old Bank.
Addressing the gathering former Minister and MLA Tanveer sait said that, after introducing CORE banking facilities, launching of ATM Card facilities, it is a step towards the progress and development of the Bank.
He adviced the Bank to introduce Net Banking facility also.
Tanveer sait said that compare to previous years, the number of share holders is decreasing. So the Bank should enroll new share holders, so that the transaction of the Bank would increase.
He requested the audience comprising business community to give their suggessions for the overall development of the Century old institution.
He suggessted the Managing Committee to construct a multistoreyed parking complex to falicitate both the shareholders of the Bank and general public. With this facility, it help in easing traffic congession and the Bank will earn the income and increase profit share of the Bank too.
Dr Syed Shakeeb Ur Rahman, former Dean, VTU, Ariff A Mehkri, former chairman, Mysore District Waqf Advisory committee, Javeed Ahmed, proprietor Chamundi Engineering, Moulana Ismail, Principal, Huda Public School, Zahoor Mohammed Aboobaker, Assistant Director, Administrative Training Institute, Congress Leader Syed Farooq, speaking on the occassion suggested some good suggessions for the overall development of the Bank and provife service with the better facilities to the share Holders, Depositors and customers of the century old Bank.
Earlier, the function began with the recitation of holy verses from holy book of Quran by Hazrath Moulana Qari Fayaz Ahmed Saheb.
Director of the Bank Dr Abdul Ravoof presented welcome address.
President of the Bank K C Showkath Pasha, presented the detail report about the progress of the Bank and said that, this Bank was established in the Year 1916 and is serving the community since 109 years.
In the begining it was registered as co-operative society and later converted into Bank, serving the community continuously sine more than a century having 4 branches including one outside the city in Hunsur.
Showkath Pasha said, the Bank is having deposit of Rs 85 crore and lent Rs 60 crore as different types of loan and the Bank is having Rs 3.71 crore as share capital, with Rs 25 crore as Reserve and other funds.
And, for the first time, the Bank has declared 22% as dividend to shareholders, who are the backbones of the bank.
The Bank has already introduced any Branch Banking, SMS alert, RTGS, IMPS and Neft and now ATM card facility. The bank is helping the community children with scholoship for education purpose and helping the dialysis patients for both shareholders and non-share holders of the Bank.
Shoukath pasha appealed to all the business community to joint hands and requested them to keep deposits and also to avail loan facilities and open their business accounts assuring them better and fast service.
On this occasion, DC Lakshmikanth Reddy and MLA Tanveer sait distributed Family Health Insurance card to all the employees of the Bank in which Rs 5 lakh coverage is provided to both the spouse and their children.
Director of the Bank Dr Suraiyya Tarannum proposed vote of thanks and Director Abdur Rahman Shariff compered the programme.
All the directors of the Bank and I/C Chief Executive Officer Md Khaleelulla Shariff were present on the occasion.
– Team Mysoorunews
Mysooru News
