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                              PRESS RELEASE

9th Annual General Body Meeting (AGM) of the Cooperative was held today on 25th of August 2024 at River View Restaurant, Bypass Road Anantnag J&K.
The main agenda of the meeting was to present the introduction and history of CCL, annual report of activities, annual audited financial statements, presentation of different proposals and deliberation on proposals and passing of the same.
It is pertinent to mention here that Crescent Cooperative Ltd (CCL) is an autonomous zero interest financial institution registered under J&K Self Reliant Cooperatives Act, 1999. The Cooperative is successfully providing interest free financial services to its members since April 2015. At the end of FY-09, a total of 715 finance policies were sponsored by CCL among its basic members.
During the financial year ended on 31-03-24 the cooperative had made a total turnover of Rs. 16,723,108.55/- through its different schemes viz., fund mobilization schemes, different finance schemes namely CSS, SCC, Qurbani, Sheep Breeding etc.
More than hundred members, aspiring candidates and well wishers of the cooperative attended the meeting and took active part in the decision making process of the cooperative.

  Date 25-08-2024.                                          Ex. Officer CCL

Crescent Cooperative Ltd(CCL) organised its 8th General body meet(AGM)2023 on 20th day of August 2023 at Hista Higher secondary School KP Road Anantnag.
The meeting formally started at 11 am. in dual mode ( physical as well as virtual ). The marathon obligatory session of around two and half hours covered the following events:
Tilawat,naat,a soul enlightening dars i quran by Mufti Sheikh Fayaz Sahib followed by presentation of brief history and status of CCL, report of annual activities and annual financial statements and audit report.
Different proposals were then presented before the members by the hon’ble executive officer of the CCL Mr Mir Mushtaq Sahib that were approved by the member participants as per the constitutional requirements of the CCL. A inspiring key note speech was presented by Br Shah Sajad-…..Traders association Srinagar.One of the senior most members of the cooperative Dr Imtiyaz did a threadbare analysis of the financial statements in his online presentation.Last but not the least Dr Maroof putforth some valuable suggestions in his concluding remarks.The session concluded with the vote of thanks presented by the moderator of the session Br Shahid.
Zuhr prayers were offered after a brief lunch session.
Post zuhr prayers an optional feedback session was held in which management received suggestions for the future development of the Institution.

In pursuance to its missionin of providing financial services to its members and in view of the fact that Private sector Employees are mostly a low income group in JK, they sometimes need funds for fulfillment of their essential needs, sanction is hereby accorded to the launch of Private Sector Employees Empowerment Scheme by Crescent Cooperative Ltd ( CCL) Anantnag.

The sailent feature of this scheme are:

1. Members of the CCL who happen to serve in any private sector entity can avail a sp. cash credit from the cooperative, equal to their one month’s salary, to be returned to the cooperative in 10 monthly instalments.
2. The concerned member will have to submit his lpc and a letter of consent from his employer to the effect that in case of any default in payments the employer will deduct the outstanding amount of ccl from the pay dues of the concerned employee and pay the same to the CCL.
3. Any of the persons working in private sector as an salaried employee and willing to avail finances under this scheme can obtain the membership without the payment of any compulsory investment amounts to the cooperative.
4. Any of the members who have not paid any compulsory amounts to ccl will have to save any amount with the cooperative under thrift amounts scheme prior to any advances are granted to them.

*Program Report*

Program 1.

With the grace of Almighty Allah the scheduled Capacity  Building Program-III was held successfully yesterday on 7th of February at
Maktabah
Mohammad Bin Qasim. Wazapora.
(Down Town)
Srinagar.
Alhamdulillah.
The program started at about 11:15 am and concluded at 2:30pm
All the participants actively  participated in  different sections of the CBP.
 
Program 2.

At 3.15 pm ( 7th Feb.) an interactive session was held with renowned columnist Dr Mehboob Makhdoomi wherein potentials and prospects of interest free banking were deliberated upon at length.

Program 3.

An awareness meet regarding structure and functioning of the CCL was held at ALOHA office, Karannagar Srinagar after Asr  prayers.Valuable suggestions were put forward by the participants for the growth of the cooperative.
The enthusiasm of the participants was overwhelming.

Exe Officer CCL

*
EVENT REPORT
With the grace of Almighty Allah, the awareness programme scheduled on 25th of October at Wazapora Srinagar was held successfully.
It was held in the assembly hall of Maktaba Mohammed Bin Qasim. More than 30 persons from different areas of the city and 4 senior member of CCL from the head office attended the event. After tilawat, Br Ali Jan Khan deliberated on the prohibition of Riba In light of Quran and ahadith. Dr Imtiyaz Ahmad gave an introduction about the working of the cooperative.
Later a question answer session was also held in which certain queries raised by the participants were clarified.
In the afternoon the deligation from head office also interacted with the members of a local NGO in Zakura area and introduced the cooperative model of Financing to them.

Exe Officer CCL.

*

A landmark Achievement.
It is to inform all members and well wishers of the cooperative that by the grace of Almighty Allah and active participation of our worthy members, the cooperative achieved a landmark on 7th of October when it completed the 2nd century of Financing different finance policies to its members.
Alhamdulillah out of these 200 policies, 120 members successfully completed their cases and transactions of 80 cases were in progress on the said date.

Exe Officer CCL.