KOZHIKODE: From behind the pardah of conservatism attached to investment, Muslims in Kerala are coming out in large numbers to the share market to face the bullish and bearish trends.
Bank deposits and other investment avenues, which ensure accumulated income on the capital without any toil on the part of the investor, are against the tenets of Islam. But the bull, along its dusty course to new a high, has blurred the dos and don’ts of investment among Muslims.
Educated young Muslims, wives of NRKs and a section of conservatives have made capital market a happening in the community. Scores of trading terminals have come up across Muslims-dominated Malappuram district. Many brokering firms are planning more outlets, realising that there is money in Malappuram. The community’s inhibition associated with the capital market is fast fading.
‘‘JRG Securities Ltd has the highest terminal penetration in Malappuram, among Malabar districts. If Thiruvananthapuram, Kochi, Kozhikode, Thrissur and Kottayam are set aside, Malappuram has the highest number of JRG terminals in Kerala.
The majority of our Muslim customers in Malappuram are active in the market. The district is also doing well in terms of business volumes and number of accounts,’’ says Biju M, assistant vice-president, JRG Securities, Kochi.
Significant to note, religious sentiments influence a section of Muslims. ‘‘Many Muslims are selective while picking up scrips. They avoid the scrips of banks, liquor and tobacco manufacturers, purely on religious grounds,’’ says a regional manager of a brokering firm. Muslim women have also become fond of the bull. ‘‘Some of them make long-term investments. Other women from NRI families help operate the accounts of their husbands,’’ says a broker in Malappuram.
According to columnist O Abdulla, ‘‘A progressive section in the community is engaged in the capital market. There is nothing wrong in a Muslim purchasing shares as a long-term investment. Indulging in speculative daily trading in the market is against Islam. In the past, many had lost money in the speculative market.’’
/>
Bank deposits and other investment avenues, which ensure accumulated income on the capital without any toil on the part of the investor, are against the tenets of Islam. But the bull, along its dusty course to new a high, has blurred the dos and don’ts of investment among Muslims.
Educated young Muslims, wives of NRKs and a section of conservatives have made capital market a happening in the community. Scores of trading terminals have come up across Muslims-dominated Malappuram district. Many brokering firms are planning more outlets, realising that there is money in Malappuram. The community’s inhibition associated with the capital market is fast fading.
‘‘JRG Securities Ltd has the highest terminal penetration in Malappuram, among Malabar districts. If Thiruvananthapuram, Kochi, Kozhikode, Thrissur and Kottayam are set aside, Malappuram has the highest number of JRG terminals in Kerala.
The majority of our Muslim customers in Malappuram are active in the market. The district is also doing well in terms of business volumes and number of accounts,’’ says Biju M, assistant vice-president, JRG Securities, Kochi.
Significant to note, religious sentiments influence a section of Muslims. ‘‘Many Muslims are selective while picking up scrips. They avoid the scrips of banks, liquor and tobacco manufacturers, purely on religious grounds,’’ says a regional manager of a brokering firm. Muslim women have also become fond of the bull. ‘‘Some of them make long-term investments. Other women from NRI families help operate the accounts of their husbands,’’ says a broker in Malappuram.
According to columnist O Abdulla, ‘‘A progressive section in the community is engaged in the capital market. There is nothing wrong in a Muslim purchasing shares as a long-term investment. Indulging in speculative daily trading in the market is against Islam. In the past, many had lost money in the speculative market.’’
/>
0 comments:
Post a Comment