A fund of Rs 103.5 crore set up for Dawoodi Bohra community

The members of the Dawoodi Bohra community can avail, as interest free loans, from a corpus fund of Rs 103.51 crore, the money they require to do business, build homes or for education. The fund was declared by the new Syedna, Muffadal Saifuddin, on the occasion of late Syedna, Mohammed Burhanuddin's 103rd birth anniversary on Thursday.

The late Syedna passed away on the January 17. On the occasion, the 53rd Dai-al-Mutlaq, Syedna Mufaddal Saifuddin, delivered a discourse at Saifee Masjid, Bhendi Bazaar, Mumbai. During the sermon, the late leader's contributions and achievements were recollected.

Anyone from the community can avail a loan from the grant. "It is something that is done every year on his birthday," said Shaikh Abdeali Bhanpurwala, executive secretary of the late Syedna.

The community in the past two decades has observed the 40-day period beginning from Prophet Mohammed's birthday to Syedna Mohammed Burhanuddin's birthday, with much enthusiasm and engaged in works related to environment, education, economy, spirituality and medicine. This year too a large number of activities had been planned coinciding with the late leader's birthday, but they were cancelled on account of his demise.

On Thursday, the Bohras renewed their commitment to all the initiatives started by their late leader. A large number of them also turned up at Raudat Tahera, the mausoleum where the late leader is buried, to pay homage.