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Islamic Finance Briefing - Categorized | Banking, People more

IFIB chief calls for interest-free banking in India

Posted on 22 February 2010

From Arabnews.com: The global banking and finance sector needs major structural changes in order to play a leading role in poverty alleviation and to encourage popular participation in nation building efforts, said Omar Abubacker, president of the Indian Forum for Interest-Free Banking (IFIB) in Jeddah.

Abubacker called upon the Indian government to make necessary amendments in the banking law in order to introduce interest-free banking, which he said could lead a massive cash flow into the national economy and bring about greater development in the country……………………Full Article: Source

 
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