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India: SBI, LIC plan Islamic products

Posted on 09 October 2009

From Indiatimes.com: The country’s largest lender State Bank of India (SBI) and the largest insurance company Life Insurance Corporation (LIC) are looking to launch Islamic products, senior officials at the two firms said.

While SBI officials have been meeting top experts in the field over the past few days, LIC has set up a team looking into such products. However, a Reserve Bank of India study has recently concluded that Islamic banking may not be feasible in the current regulatory framework in the country………………..Full Article: Source

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Laxman - who has written 19163 posts on Opalesque Islamic Finance Briefing.


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