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

High Court in India adjourns petition against Islamic banking

Posted on 09 December 2009

From Business-standard.com: The Kerala High Court today adjourned a petition filed by Subramanian Swamy, a former Union minister, against the proposed commencement of an Islamic bank with state participation. A bench of Chief Justice S R Bannurmath and A K Basheer adjourned the case for january 5, for a detailed hearing.
Swamy had challenged the October 14 order of the principal secretary, industries, of the state government, allowing Kerala State Industrial Development Corporation (KSIDC) to register a company to provide banking services as enjoined in Muslim personal law (sharia)……………………………..Full Article: Source

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