Sunday, August 28, 2016

Better Float Than Borrow

Some women in India are organizing themselves to better their income.
Agra: About 374 weavers, mainly Muslims and Dalits, engaged in manufacturing rugs in five villages of Fatehpur Sikri, have decided to float a company so that they can get rid of middlemen, who take away a lion's share of their profits, and sell their products to the customers directly.
I sent emails to some of the people interviewed a week or so ago, but no reply.  I know emails are no way to make an introduction, but I just wanted info for the story.  Anyway, one aspect of the story is microloans, which is the gateway drug for hooking Moslems on usury.  I'm agin'it.

On the other hand, "float a company" is halal, since people putting up money are putting it at risk.  This is the right way to do things.  These ladies will thrive, In'sh'Allah.

Feel free to forward this by email to three of your friends.