Fashion, Music And Lots Of ‘Moola’

The permutations of 786 on the number plates of hundreds of luxury cars parked in the basement at the Inkosi Albert Luthuli ICC complex on Tuesday night was a telling sign of why in 20 years, Albaraka Bank has achieved assets totalling almost R2- billion.

The bank, which ironically has reflected deposits in excess of R1.6-billion despite the tough economic climate, celebrated its milestone anniversary on Tuesday with clients, staff and shareholders.

And near the top of the kudos for this success was the support and vision of the Muslim community — including some of the country’s wealthiest people — who embraced the principle of the faith-based system of financial management as a viable alternative to the conventional banking model since 1989.

Listening to former judge Aboobaker Mohamed eloquently recount the series of chance events and faith demonstrated by Saudi billionaire and banking visionary Sheikh Saleh Kamel, which led to the establishment of Islamic banking in 1989, was a fascinating story, amplified by the classy ambience of the venue (think middle-eastern flamed torches and beautiful fresh flowers).

Formalities — including an introduction by UK director and former South African Schabir Randaree, long service and special service awards, Mohamed’s 20-year history, political rhetoric from provincial minister of economic development Mike Mabayakhulu and the unveiling of the group’s new corporate identity — did go on a bit but, to be fair, these were facilitated by Albaraka employees Ismail Yuseph and Yunus Paruk, who were effective and entertaining as programme directors.

Judging by the bank’s success (which challenges the stereotype that Muslims hide their money under their mattress) the Islamic community commitment is sure to see Albaraka realise their goal of R5-billion in deposits in the near future.

COUNT ME IN: Mohamed explained that in the bank’s formative years management went on a road show to get clients to buy shares. At a time when they were asking for R100000, one wholesale retailer pledged support with R1-million — a lot of money way back in the 1990s.

MILLIONAIRE’S DREAM: One of the guests, Kamdar Akoo, mentioned that his family’s property development wing is busy with a R100-million development of their hotel, Seaboard (which was damaged in a fire last year). They are building 150 bedroom apartments, designed with students in mind, along with a retail component.

A major retail chain store will occupy the building in November and a pharmacy and a popular fast-food restaurant will move in later.

The group, which also owns residential villas on the north coast and commercial property in Pietermaritzburg, says that the hotel will be ready in time for next year’s kick-off.

FOOD AND ENTERTAINMENT: Mains — including prawn-and-chicken curry, rogan josh, roast lamb and kalta rice — were served in bowls on the table, which made the dining experience similar to eating at home as the bowls were passed around.

During starters and mains, guests — males and females seated separately as per request — were entertained by contemporary a capella Islamic group Waheed, which loosely translated means oneness (think Islamic version of Ladysmith Black Mambazo). The group, sadly, didn’t perform their beatbox repertoire, which has earned them favour with the younger generation, who weren’t the target audience on the night.

On the subject of entertainment, hundreds of music lovers looked like condoms on the lawns of the Durban Country Club as they protected themselves with plastic rain macs provided graciously by hosts First National Bank when the heavens applauded the KwaZulu-Natal Philharmonic Orchestra’s Starlight Pop Opera on Sunday night.

The financial sponsors, who have traditionally supported the initiative now in its 11th year (according to KZNPO chief executive Bongani Tembe), made sure all guest needs were catered for — thanks to a nifty cooler bag containing all sorts of goodies including a cheese board, the handy rain macs, cutlery and crockery necessary for the picnic as well as chairs.

Television personality Tumisho Masha was a fitting host for the outstanding performances from the orchestra and vocalists from classic to movie music and made for a wonderful night out, despite the rain.

And that was exactly what former Gate- way public relations officer, Lisa Sukdhev, promised when she invited me to a huge party last Thursday evening that was thrown by Kevro, a corporate clothing wholesaler.

The company, which I had previously not even heard about, celebrated their new premises in the newly developed industrial area of Riverhorse Valley with clients and selected guests.

A number of guests stuck to the black and white theme on the chilly night which kicked off with music by Idols finalist Lize Heerman, magical platters of food (they kept disappearing within minutes of being brought out) and a fashion show featuring their promotional clothing (of course), coordinated by managing director Eugene Haveman’s wife, Debby, who is a former model.

The success of the company — no mean feat in our current climate — means more jobs and bigger premises and no wonder staff, management and clients were in a jubilant mood.

From The Times