As JCB turns 25 a write-up on Mirza Faridul Beg the visionary who empowered marginalised through financial inclusion


As JCB turns 25 here is a write-up on Mirza Faridul Beg the visionary who empowered marginalised through financial inclusion

Before 1995 Jamia Nagar was deprived of banking services as there were a few banks in the locality, according to residents.

However, things took a drastic change after Mirza Faridul Hasan Beg (1936 – 2015), a noted social worker from Azamgarh in Uttar Pradesh then residing in Zakir Bagh, opened Jamia Cooperative Bank.

And as the bank turns 25, the OT compiles a report based on information provided by Mirza Faridul Hasan Beg’s family members and fans highlighting the fact that how a visionary’s relentless efforts can leave a positive impact on society and a locality.

The JCB’s first branch was set in Batla House and over years, the bank opened several branches empowering the residents through financial inclusion, said the bank’s well wishers.

Currently, the bank operational in 8 places in Okhla has 97,000 accounts and over 14,000 share holders.

In his lifetime Mirza Faridul Hasan Beg did all he could to empower the deprived not only in Okhla but in his hometown Azamgarh. And after his demise his vision was carried forward by his charismatic son Mirza Qamarul Hasan Beg. After being anointed as chairman of the JCB years ago, the bank expanded further under the guidance of Qamarul, said insiders.

Like his father who was always more than willing to help the deprived, Qamarul took a few initiative including helping the youngsters fullfil their educational dream.

With JCB’s initiative, a large section of society that was deprived of financial inclusion, stepped into a better future and started contributing not only to improve the socio-economic condition of the weaker sections but also the holistic development of India’s economy, said the bank representative in a statement.

Mirza Faridul Hasan Beg was inspired by India’s freedom movement, nationalist leaders and personalities who had a big dream for their beloved nation India. He came to Delhi, studied at Jamia Millia Islamia and took up social work as the mission of his life.

Reflecting the true spirit of Jamia founders to give back to society whatever they received in the form educational nourishment, Mirza Faridul Hasan Beg too thought of establishing a residential colony to help his teachers, Jamia staffers and other like-minded people have a healthy home and lead a better life.

He discussed the concern with his close friends and well-wishers and after year-long churning, he got Dr Zakir Hussain Memorial Group Housing Society registered in Delhi.

He worked tirelessly to fulfill his dream and as a result in 1984, Zakir Bagh sprung over 4.25 acres of land, was ready to accommodate 204 families from Jamia.

After this achievement, he shifted his focus to the financial empowerment of the weaker sections of society. Since he was impressed by the Cooperative Movement, he went ahead registering Jamia Cooperative Bank in 1995 and today with 97,000 accounts and over 14,000 share holders.

JCB at present is operational at 8 locations: Batla House, Zakir Nagar, Sarai Jullena, Abul Fazal Enclave, Jasola, Madanpur Khadar, Badarpur and Sangam Vihar with a track record of zero NPA.

In addition to facilitating banking services to the marginalised, JCB also tied up with IFFCO-TOKYO to offer multiple Insurance schemes and products so that the holistic empowerment of human life could be ensured.

Having fulfilled the housing needs of the intended beneficiaries and working remarkably well for weaker section’s financial inclusion, he realised that a bright future to the younger generations cannot be ensured without educational empowerment.

Therefore, back home in Azamgarh, he went ahead establishing many educational institutions including Mirza Ahsanullah Beg Girls Degree College.

And to help the farmers and the poor from remote villages, he established a community Radio by the name of “Voice of Azamgarh”.

Mirza Faridul Hasan Beg, before leaving for his heavenly abode in 1995, gave his heirs a legacy in the form of multiple institutions he set during his lifetime. And with his son Qamarul around who could have bettered taken his vision forward.