Indian Bank’s Post

Empowering Charity with Digital Innovation: Islami Bank’s Upcoming "Digital Dan Box" Islami Bank Bangladesh PLC is set to revolutionize the way charitable donations are made with its upcoming digital product, "Digital Dan Box". This innovative solution is designed to facilitate seamless donations for Masjids, Madrasahs, Yateemkhanas, and other charitable organizations. Powered by Bangla QR, the unified QR code of Bangladesh, Digital Dan Box will enable users of Bangla QR-connected banking apps and mobile financial services like Cellfin, bKash, Rocket, and others to donate effortlessly with just a scan. This initiative aims to make charitable giving more accessible, transparent, and secure in today’s digital era. As we move towards a more cashless and inclusive financial ecosystem, Digital Dan Box will play a crucial role in promoting a culture of generosity and ease of donation. Islami Bank remains committed to leveraging technology for social welfare while upholding Shariah-compliant financial principles.

According to data from Bangladesh Bank, the banking sector in the country has donated over Tk3,000 crore to the Prime Minister's Relief Fund under Corporate Social Responsibility (CSR) over the last nine years, up to 2023. During this period, banks spent a total of Tk7,099 crore on CSR activities, with 44% of that amount being directed to the PM's relief fund as donations. This significantly exceeds the CSR guideline, which sets a maximum limit of 20% for such donations. It has been reported that banks were compelled to make these donations, with funds provided through pay-order cheques handed directly to the then prime minister, Sheikh Hasina. However, due to the nature of these cheques, banks were not informed of the specific account into which these donations were deposited. Source: https://lnkd.in/gGuy84jx

According to data from Bangladesh Bank, the banking sector in the country has donated over Tk3,000 crore to the Prime Minister's Relief Fund under Corporate Social Responsibility (CSR) over the last nine years, up to 2023. During this period, banks spent a total of Tk7,099 crore on CSR activities, with 44% of that amount being directed to the PM's relief fund as donations. This significantly exceeds the CSR guideline, which sets a maximum limit of 20% for such donations. It has been reported that banks were compelled to make these donations, with funds provided through pay-order cheques handed directly to the then prime minister, Sheikh Hasina. However, due to the nature of these cheques, banks were not informed of the specific account into which these donations were deposited. Source: https://lnkd.in/gGuy84jx #Economy #Banking #CSR #Bangladesh #Markedium

Requesting RBL Bank, HDFC Bank, Bajaj Finserv and all the other banks to stop calling asking if I am interested in loans or financial advice. You guys are bombarding me with 6 calls per day by stealing data from no idea. Who the hell has given you permission to call? I block one number and you guys call from another number. If I am interested in your so called " services" trust me I will walk-in into your nearest branch. Also, Save the Children International I am sorry that the children are suffering and I am making my efforts by donating to your foundation each year but that does not permit your so called employees to call and ask for money mentioning that there is a child in need urgently and we need your help. This kind of harassment is not acceptable. Stop stealing my number from who knows where and calling to meet your targets. #rblbank #hdfcbank #savethechildren

💰Payments weekly round-up - 17 August 💰 This is what jumped out at me over the last week: 💷 The Bank of England announced that the auction of low serial number King Charles III banknotes raised nearly £1 million for charity. https://lnkd.in/eq-5J7rT 🇬🇧 Also in the UK, Payment Systems Regulator published its response to its earlier call for views on expanding variable recurring payments. https://lnkd.in/e4F8XS_t 🇮🇳🇲🇻 NPCI International (the international arm of the NPCI, which operates the Indian fast payment system UPI) and the Maldivian Ministry of Economic Development and Trade signed a Memorandum of Understanding (MoU) to develop a system like UPI in the Maldives. https://lnkd.in/egEp2pm3 🇷🇸 The Serbian Parliament approved legislative amendments to introduce open banking in Serbia. https://lnkd.in/eMdmVUkX

A Section 8 microfinance company is a type of non-profit organization registered under Section 8 of the Indian Companies Act, 2013. These companies are established for promoting commerce, art, science, sports, education, research, social welfare, religion, charity, and environmental protection. When it comes to microfinance, Section 8 companies focus on providing financial services to low-income individuals or groups who lack access to traditional banking services. 1. Legal Structure and Purpose: a) Operates as a non-profit entity. b) Profits, if any, are reinvested back into the company’s objectives and are not distributed as dividends. 2)Financial Services: a) Provides small loans to individuals or groups, typically for business or personal development purposes. b) Loans are designed to help borrowers improve their livelihoods and economic standing. 3) Insurance Services: a) Offers microinsurance products to protect clients against risks such as health issues, accidents, or natural disasters. #legalchalo #section8microfinance #microfinancecompany #financialinclusion #empowermentthroughfinance #smallloans #communitydevelopment #financialempowerment #microloans #supportlocalbusinesses #economicgrowth

"Join With Us: 'Lifting Others Up and Empowering One Another to Create a Brighter India' When we the IMMANUEL MERCY HOME ASHRAM support and empower those around us, we not only help them grow but also strengthen ourselves. By doing so, we create a ripple effect of kindness and compassion that can have a profound impact on the world. So, let's strive to be the ones who lift others up and, in doing so, discover our greatest strength. Here's how you can lift others up with us: 1. Donate via Bank Transfer: - Account Name: MERCY MISSION - Account Number: 917020043188814 - IFSC Code: UTIB0000652 - Bank Name: Axis Bank - Branch: New Panvel, Navi Mumbai, India 2. Donate via GPay: 9594453257 3. Donate via Bank Transfer (Alternative): - Account Name: IMMANUEL MERCY HOME ASHRAM - Account Number: 50210013682231 - IFSC Code: ESFM0001599 - Bank Name: ESAF Small Finance Bank - Branch: Mumbai-Panvel (1599) Lifting others up is our greatest strength! Let's spread kindness and compassion wherever we go."

What is the Section 8 microfinance company registration? Section 8 microfinance company registration involves forming a non-profit entity under Section 8 of the Companies Act, 2013, with the primary objective of providing financial services to low-income individuals and communities. The process includes obtaining a license from the Registrar of Companies (ROC), drafting a detailed Memorandum and Articles of Association, and ensuring compliance with Reserve Bank of India (RBI) regulations for microfinance activities. The company must adhere to strict guidelines to ensure its activities align with its social objectives, without distributing profits to members. This structure allows the organization to offer financial services while enjoying various tax exemptions and credibility benefits. ection 8 company registration online - https://lnkd.in/d62wEP7Y

✅ 𝐀𝐌𝐏 𝐈𝐍𝐓𝐄𝐑𝐄𝐒𝐓 𝐀𝐈𝐃 ✅ 𝘋𝘰𝘯𝘢𝘵𝘦 𝘪𝘯𝘵𝘦𝘳𝘦𝘴𝘵 𝘢𝘯𝘥 𝘱𝘶𝘳𝘪𝘧𝘺 𝘺𝘰𝘶𝘳 𝘞𝘦𝘢𝘭𝘵𝘩!    Riba or Interest is an important issue for All Muslims and particularly for Professionals like us. The majority of Muslims don't use Interest Money as it is Haram for us. People usually leave this interest money in the bank where it may get misused. Alhamdulillah! AMP provides a platform for people to donate their 𝐐𝐮𝐚𝐫𝐭𝐞𝐫𝐥𝐲/𝐀𝐧𝐧𝐮𝐚𝐥 𝐁𝐚𝐧𝐤 𝐢𝐧𝐭𝐞𝐫𝐞𝐬𝐭 in charity (without the niyat of reward) so that this amount can be used by AMP for the 𝐔𝐩𝐥𝐢𝐟𝐭𝐦𝐞𝐧𝐭 𝐨𝐟 𝐭𝐡𝐞 𝐏𝐨𝐨𝐫 𝐚𝐧𝐝 𝐍𝐞𝐞𝐝𝐲 by way of Educational & Economic Empowerment. ✅ 𝐎𝐛𝐣𝐞𝐜𝐭𝐢𝐯𝐞𝐬 𝐨𝐟 𝐀𝐌𝐏 𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭 𝐀𝐢𝐝: ✔ Get rid of Interest/Riba credited Quarterly/Annually in your Bank account and purify your Wealth ✔ Provide a Platform to people to donate their Bank interest ✔ Lifting the Poor & Needy from the lows of Poverty ✔ Helping the Poor & Needy become Self-Sufficient ✅ 𝐅𝐢𝐧𝐝 𝐦𝐨𝐫𝐞 𝐝𝐞𝐭𝐚𝐢𝐥𝐬 𝐨𝐧 𝐀𝐌𝐏 𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭 𝐀𝐢𝐝 𝐚𝐭: https://lnkd.in/dRmwWcXe  ✅ 𝐘𝐨𝐮 𝐦𝐚𝐲 𝐝𝐞𝐩𝐨𝐬𝐢𝐭 𝐲𝐨𝐮𝐫 𝐢𝐧𝐭𝐞𝐫𝐞𝐬𝐭 𝐦𝐨𝐧𝐞𝐲 𝐢𝐧 𝐭𝐡𝐞 𝐟𝐨𝐥𝐥𝐨𝐰𝐢𝐧𝐠 𝐁𝐚𝐧𝐤 𝐀𝐜𝐜𝐨𝐮𝐧𝐭; Account Name: Association of Muslim Professionals - Interest Account No.: 8346479740 Account Type: Savings Bank Name: Kotak Bank IFSC Code:  KKBK0001348 𝐈𝐦𝐩. 𝐍𝐨𝐭𝐞: Please mail us the transaction details on info@ampindia.org and mention ‘𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭 𝐌𝐨𝐧𝐞𝐲’ in the subject, so we may spend it correctly. 𝑮𝒆𝒕 𝒓𝒊𝒅 𝒐𝒇 𝑰𝒏𝒕𝒆𝒓𝒆𝒔𝒕/𝑹𝒊𝒃𝒂 𝒂𝒏𝒅 𝒑𝒖𝒓𝒊𝒇𝒚 𝒚𝒐𝒖𝒓 𝒘𝒆𝒂𝒍𝒕𝒉 𝒃𝒚 𝒔𝒖𝒑𝒑𝒐𝒓𝒕𝒊𝒏𝒈 𝑷𝒐𝒐𝒓 & 𝑵𝒆𝒆𝒅𝒚! #𝐀𝐌𝐏𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐀𝐢𝐝 #𝐏𝐮𝐫𝐢𝐟𝐲𝐘𝐨𝐮𝐫𝐖𝐞𝐚𝐥𝐭𝐡 #𝐃𝐨𝐧𝐚𝐭𝐞𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭 #𝐂𝐡𝐚𝐫𝐢𝐭𝐲𝐖𝐢𝐭𝐡𝐏𝐮𝐫𝐩𝐨𝐬𝐞