Current affairs Prime Minister Dr. Manmohan Singh inaugurated National Waqf Development Corporation Limited (NAWADCO), a new Central Public Sector Enterprise under the Ministry of Minority Affairs. The NAWADCO is termed as an important institution for the development of Waqf properties and for the community welfare, particularly of Muslims in India. The establishment of NAWADCO is a follow up of ‘ Sachar Committee’ recommendations. National Waqf Development Corporation Limited (NAWADCO): Established with Authorized Share Capital of Rs.500 Crore with a paid up capital of Rs.100 crore. National Minority Development and Finance Corporation (NMDFC) have 49% shares in NAWADCO. Objective: To facilitate and mobilize financial resources for the development of Waqf properties for community development purposes in a joint venture with the State/ Union Territory Waqf Boards and the Mutawallis. #fyaan
Posted on: Sat, 01 Feb 2014 11:44:28 +0000
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