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| Sunday, 27 October 2002 |
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| News Business Features Editorial
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Making the poor rich, core of Islamic banking The idea of Islamic banking is to make the poor rich and not to make the rich richer, said Founder and Managing Director of First Global Investments Pvt Ltd. Muhammad Ikram Thowfeek. He said that according to Islamic principles, money does not breed money; instead it is just a medium of exchange and need to be put to productive use to generate economic activities on a profit and loss sharing basis. "We at First Global are duty-bound to protect the fabric of our society. Therefore, all transactions are looked beyond the economic and financial benefits they may bring by reviewing each transaction or activity from a moral, ethical, social and religious perspective," he said. Every transaction or activity at First Global goes through the stringent test of compliance to Islamic principles - the Shariah Supervisory Board. First Global Investments, an Islamic investment and financial group, plans to emerge as a significant player in the industry and become the 'unparallel choice for all concerned' while adding value to the community. "Having the most ethical, talented and dedicated partners through strategic alliances; doing our utmost to help our customers succeed and to provide them with the highest level of customer services, uncompromised quality and competitive pricing and returns; using state-of-the-art technology in developing, managing and delivering investment and financial products or services; ensuring that employees are provided with proper training, career growth opportunities and support to meet the challenges and respond to market needs and trends; and maximising returns for shareholders and investors while adding value to the community are among the aims of the company," Thowfeek said. First Global Investments is a private limited liability company registered in Sri Lanka and was formally incorporated on March 30, 1999 to offer investment opportunities and financing facilities to investors and customers, based on the value system and ethics of Shariah. |
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