- Pact signed with Central Bank
- Waqf Board’s major reform
Bhopal: In a landmark move aimed at enhancing transparency and curbing financial irregularities, the Madhya Pradesh Waqf Board has initiated a major reform: all 15,008 registered Waqf property management committees across the state will now have dedicated online bank accounts. This development comes after the board signed a formal agreement with Central Bank of India to facilitate the account openings.
Transparency overhaul in Waqf Administration
The Waqf Board, under the leadership of Chairman Dr. Sanwar Patel, had been receiving persistent complaints of financial mismanagement and irregularities due to the absence of bank accounts for local Waqf committees. Following a detailed investigation, the board concluded that the lack of banking infrastructure was not only causing administrative inconvenience but also leading to substantial financial losses.
Mandatory bank accounts for all committees
In a bold step toward accountability, the board has made it mandatory for all Waqf committees to open official bank accounts. The goal is to ensure transparent financial transactions, eliminate under-the-table dealings, and strengthen the overall financial health of both the Board and its affiliated committees.
However, the initiative faced early roadblocks as many local committees struggled with bureaucratic and logistical hurdles while trying to open bank accounts. In some areas, account creation was nearly impossible due to lack of cooperation or procedural delays at local banks.
Breakthrough agreement with Central Bank
To resolve these issues, Dr. Sanwar Patel personally led multiple rounds of discussions with the zonal head and senior management of Central Bank of India. With support from top officials in the Madhya Pradesh government, including the Principal Secretary, a breakthrough was finally achieved.
In a historic move, Central Bank has now issued a formal circular to all its branches, instructing them to open accounts for Waqf Board’s legally recognized committees without delay or complications.
Committees advised to act promptly
Waqf committee members who previously faced difficulties in opening bank accounts can now visit their nearest Central Bank branch, armed with the official letter issued under this new arrangement, and open their committee’s account with ease.
