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ICIF pitches for Islamic banking to fund India’s infra

Posted on 08 December 2011

Indian Centre for Islamic Finance(ICIF) today made a strong pitch for Islamic banking in the country to meet India’s huge need for funds for infrastructure development. India needs one trillion dollar to upgrade its infrastructure in order to achieve the target of annual growth of 9 per cent and hence Islamic banking can be an alternative to meet this requirement, said Mr Muddassir Siddiqui, an international expert on Islamic finance.
He claimed Islamic financing has emerged as a viable alternative the world over after the financial meltdown in the West in 2008. It is growing at the rate of more than 15 per cent………………………………………..Full Article: Source

 
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