1. To establish, promote, and operate financial platforms, institutions,
or mechanisms such as cooperative credit societies, microfinance
entities, interest-free lending groups, and community development
funds aimed at empowering minority communities.
2. To register and operate such financial platforms in full compliance
with Indian financial laws, including the Reserve Bank of India (RBI)
regulations, the Banking Regulation Act, the Cooperative Societies
Act, and other relevant statutes.
3. To provide financial services such as micro-credit, savings
schemes, cooperative banking, and small business funding tailored
to the needs of economically weaker sections of the minority
population.
4. To encourage financial inclusion by facilitating access to banking,
insurance, pensions, and investment advisory services among
unbanked and underserved sections of the community.
5. To raise and manage community financial resources through lawful
means including member contributions, donations, CSR funds,
grants, and endowments for developmental purposes.
6. To promote Islamic and ethical finance models, including interest free financial products and risk-sharing mechanisms, which align
with community values and legal frameworks in India.
7. To train and certify community members in financial literacy,
cooperative management, and entrepreneurship, thereby building
internal financial capacity and responsible governance.
8. To collaborate with nationalized banks, NBFCs, cooperative banks,
fintech startups, and government agencies to leverage broader
financial ecosystems for community development.
9. To establish financial infrastructure such as digital wallets,
community ATMs, local service centers, and online platforms for
ease of access to financial tools and resources.
10. To ensure transparent audit, reporting, and governance standards
for all financial platforms created or supported by the Forum, in
accordance with applicable financial and trust regulations.
