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India may mull Shariah banking

Posted on 05 February 2010

From Indiatimes.com: Union minister for corporate and minority affairs Salman Khurshid said that his ministry was open to seeking the views of experts on interest-free banking. India has to reach out to huge savings potential that lies untapped through interest-free banking or shariah-compliant financial instruments, he said.

An international conference of economists, investors, consultants and academicians called upon the government to create an Indo-Arab entrepreneurship fund and they also urged it to accept the recommendations of the committee on financial sector reforms of Planning Commission, under the chairmanship of Raghuram Rajan, with regard to interest-free banking in India…………………………………Full Article: Source

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