| The Kerala State Industrial Development Corporation (KSIDC) has partnered with Cheraman Financial Services Limited, a Kochi-based Islamic fund. KSIDC has 11 per cent share in the Rs. 250 crore fund which is a shariah-based entity aimed at funding selected sectors.
Cheraman is the new avatar of the Al Baraka fund proposed by KSIDC two years ago. The Al Baraka initiative was intended to mobilise funds from Muslim expatriates, mainly from the Gulf countries, and utilise it for industrial development projects in the State. It is also understood to be the first of its kind in the country...............................................Full Article: Source
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