Fri, Nov 22, 2019
A A A
Welcome bhaimia
RSS

Islamic Finance Briefing - Categorized | Banking, Compliance, Tax, Legal, Regulatory, People more

Islamic banking impossible in Indian regulatory set-up: RBI governor

Posted on 09 May 2013

RBI governor D Subbarao on Wednesday said implementing Islamic banking model in India would be impossible because it is inconsistent with the banking regulatory set-up where interest is charged and given. However, he said he has suggested the government that the decision being political, it must debate and, if required, bring in a law.
“It can be a parallel system for which a separate regulatory set-up can be created,” the governor said. “It is a political issue,” he said………………………………………..Full Article: Source

 
Article link

This post was written by:

Laxman - who has written 19160 posts on Opalesque Islamic Finance Briefing.


Contact the author

Comments are closed.

banner
banner
banner
November 2019
M T W T F S S
« May    
 123
45678910
11121314151617
18192021222324
252627282930