The process of split of Minority Finance Corporation between Telangana and Andhra Pradesh has been completed. Formal orders were issued in this connection on Thursday. Special Secretary Minority Welfare Syed Omer Jaleel issued G.O. Ms. No. 18. Division of corporation was approved through mutual consultation of both the states. Besides division of staff and assets has also been approved.
Following fresh orders Telangana Minority Finance Corporation and Andhra Pradesh Minority Finance Corporation will emerge as two separate institutions and both will work for their respective state. GO stated that assets would be distributed on the basis of report of experts. Telangana and Andhra Pradesh will get the share in the ratio of 58:42 respectively. It is likely that Shaikh Mohammed Iqbal will soon take charge as Managing Director of Andhra Pradesh Minority Finance Corporation.
Meanwhile process of division of other Minority institutions like Minority Commission, Urdu Academy and CEDM is underway while division of Waqf Board is under consideration by the Central government.
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