Our previous projects:
All members of Ansar were allocated with one complimentary “Class-B” ordinary share (non voting, non-transferable and of no surrender value) of Ansar Housing Ltd. The members were then entitled to purchase Preference Shares of £100 each to participate in the Halal Profit scheme of Ansar Housing Ltd.
The fund raised from the purchase of preference share are invested by Ansar Housing Ltd in property, providing Muslim brothers and sisters with home, free of interest.
The principle of the scheme is of Shared Ownership basis. Whereby the person in need of the house provides a minimum of 20% of the required amount and Ansar Housing Ltd (representative of the share holders) provides the rest of the 80%.
Hence the 20 % of the ownership of the house is gained by the purchaser and the 80% by the Ansar Housing Ltd (the share holders). The purchaser then resides in the house and pays a rent at market value on the 80% to Ansar Housing Ltd.
At the year-end any profit generated from the rental income is shared with the investing members in the form of dividends.
Our anticipated rate of return for the year end February 2002 on your investment is :
Halal Profits on your Investment
Ansar Housing Limited intends to keep an individual’s funds as flexible as possible with the right to redeem the investment with a reasonable notice.
Your capital is always safe: since the monies are invested in the property and not in any industry linked with the stock market, therefore your capital is never a subject to the fluctuations of the stock market. As we all have seen over the past years that despite of the boom and bust period the value of the properties have always appreciated, if the borrowing is not exceeding the value of the property. Therefore with the participation in this scheme your capital can never go below its original value.
Ansar Housing Limited promises to abide by taxation and legal framework of U.K.
Why should you participate with this scheme?
If you are a Muslim then taking and paying of interest is Haram to you. In UK the whole of financial and commercial structure is based on interest. So how can we not be involved with interest? Its very difficult, but being a Muslim and residing in UK it is our duty to create an alternative to this system for the next generation.
Just the same as our elder generation started the constructions of the Mosques, which, Alhamdulillah (praise be to Allah), are growing in numbers every day, and there is no shortage of a place for the whole of the Ummah in UK to pray in congregation (Jamat). Similarly if we make a start today to establish or support organisations to provide alternative to interest related transactions, very soon we will be able to satisfy the needs of all the Muslims in the country.
History Of Ansar Finance Group
- Founding Members and Name
- Ansar Housing
- Organisation Restructure
- Executive Committee
- Founding Members
It was a cold autumn evening, much like any other autumn evening in Manchester, when the foundation stone for the first ever UK interest-free organisation was laid. The date was Wednesday 19th October 1994 when the founding members of Ansar Finance met in a popular Rusholme restaurant to inaugurate the beginning of a viable alternative to the interest infested monetary system prevalent in the society at large.
Founding Members and Name
What had started as a dream many years before in the mind of one of the founding members was finally being realised with the help of 24 other founding members. The founding members came from various backgrounds, they were all respectable members of the community and had a good standing in their respective professional fields (see founding members profile below). What brought them together was one common desire, to help themselves and others in the community to rid the Muslim Ummah in the UK of the shackles of interest and to comply fully with the injunctions of the Quran and Sunnah.
Hence the name ‘Ansar’ was chosen for the new organisation, which means to help or to be a helper. This new organisation would be based on the Islamic principles of Justice, Fairness and Equality. It would serve the best interests of the community and its members and would provide an alternative (halal) finance system to the interest-based finance system that has a monopoly on today’s society.
Ansar has come a long way since its inception. From an initial membership of just 25 in 1994, the Ansar has grown to over 800 members to date. New members are joining all the time and the organisation is continuously striving to expand. This has all come about due to the commitment of all the members and in particular due to the hard work and dedication of the Executive Committee.
In February 2000 Ansar Housing Ltd, was launched under the umbrella organisation of Ansar Finance. Ansar Housing Ltd. provides a mechanism to Ansar members to purchase their own homes under a halal interest-free system. So far, Ansar Housing Ltd. has purchased 14 properties under the scheme with a total value £500,000. Members are encouraged to purchase shares in Ansar Housing upon which they receive a yearly dividend.
In 2004, an umbrella organisation of Ansar Finance Group (afg) was created within which the separate companies of Ansar Personal Loans Ltd (APL) and Ansar Housing Ltd (AHL) were established.
The Executive Committee have worked conscientiously for the past ten years on a voluntary basis without any material or financial reward. It should be noted that the Directors of Ansar Finance are forbidden to receive any benefits in kind or financial reward. They are also excluded from the normal benefits that are on offer to other Ansar members, such as interest-free loans. The stringent rules governing the position of Director are in place in order to preserve the integrity of Ansar Finance.
Mr Ajmal Saleem Ramzan
Mr Xavier Rangel
Mr Mohammed Iqbal
Mr Ali Akbar Mohammed
Mr Naseer Nazar
Mr Mohammed Afzal Khan
Mr Manzoor Hussain
Mr Asad Zaman
Mr Farroukh Zaheer
Mr Abid Ahmed Satwilkar
Mr Masood Ahmed Warriah
Mrs Nuzhat Khatoon Mohammed
Mr Iftikhar Ahmed Awan
Dr Azhar Iqbal Quraishi
Mrs Saima Alvi
Dr Shahnaz Awan
Mohamed Abdel Malek