Mon, Nov 24, 2014
A A A
Welcome bhaimia
RSS

Islamic Finance Briefing - Categorized | Banking, People more

Expert says Islamic banking is not practicable in India

Posted on 24 November 2009

From Thehindu.com: Given the current banking sector regulations in the country, Islamic banking is not practicable in India, said Mufti Abdul Kadir Barkatullah, a British expert on Islamic banking and finance.

Since giving or taking interest is against the Sharia laws, Islamic banks need to look to other areas, such as trading, to generate profits to meet their costs. In India, banks are not allowed to get involved in trading and hence Islamic banks cannot survive, the India-born Mr. Barkatullah pointed out………………………..Full Article: Source

 
Article link

This post was written by:

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


Contact the author

Comments are closed.

banner
November 2014
M T W T F S S
« May    
 12
3456789
10111213141516
17181920212223
24252627282930