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Afghan banks to lure $3 bln ‘idle’ funds: Islamic finance

Posted on 05 January 2011

From Bloomberg: Afghanistan plans to let financial institutions expand services that comply with religious law and set up standalone Islamic banks to attract investment and an estimated $3 billion its residents haven’t entrusted to banks.
The country’s central bank, Da Afghanistan Bank, is drafting legislation to enable non-Islamic banks to convert into full-fledged Shariah-compliant lenders, Muhammad Qaseem Rahimi, director general of the Financial Supervision Department, said in a telephone interview Dec. 29…………………………………….Full Article: Source

 
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