Special attention needed on Islamic venture capital fund

G RAMASWAMI ADDRRESSES THE CONCLUDING FUNCTION OF THE INTERNATIONAL CONFERENCE HELD UNDER THE PATRONAGE OF I.O.S AND INDO-ARAB ECONOMIC COOPERATION FORUM:

New Delhi: On the progress of Indian economy the chances of research and probe have increased. In this connection Islamic venture Capital Fund needs special attention. It is possible only when we pay attention to our education which will lead us to conduct research and probe. Here under the topic of Islamic Venture Capital Fund Possibilities and international 2 day Conference concluded in which these views were expressed.

G Ramaswamy the president of Institute of Chartered Accounts of India assured to give full cooperation to the Institute in research and probe. Dr. Manzoor Alam expressed his thanks to G Ramaswami for his cooperation. There were two sessions and in one of them (concord) a well known capital company founder of which clearly said that the manager of Islamic Fund are not right in thinking this way.

The venture Capital Funds cannot be launched on Sharai Foundations. Commerce Research Scholar of AMU Fayaz Ahmed Lol said that this poinht5 has been clarified in the thesis of Professor Inamul Haq. Such institutes participate in both profits and lose whereas India including other countries cooperation is provided only in the case of profits. The president of UTI asset management Company of Mumbai Imtiaz Rehman also expressed his views. Other experts and participants in such ventures also expressed their observations. More often people remain in apprehension while Islamic monetary system provides equal opportunities for all which gives a sort of pleasure also.

The director founder of Bangalore Shariq Nisar and C.E.O of Wealth City Chennai Dr. A Mohammed Ajmal also maintained that Islamic venture Capital Fund is practicable in India. Presiding over it Imtiazur Rehman said that this venture will be of benefit to the Community and the country. Satisfaction was expressed on the progress of Islamic banking and it is expected that like western countries India will also be benefitted. The govt. of India was appealed to take necessary steps regarding venture Capital Funds. On this occasion 17 experts were awarded who included the intellectuals and the journalists. Dr. Tahir Baig thanked the participants at the end of the Conference.

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