Fri, Oct 31, 2014
A A A
Welcome bhaimia
RSS

Islamic Finance Briefing - Categorized | Banking, Emerging Trends more

Interest-free banking: A need for communal welfare

Posted on 26 May 2010

From Commodityonline.com: The internal working group of Reserve Bank of India (RBI), led by Anand Sinha, was supposed to examine the feasibility of Islamic banking business in India; they concluded that Islamic Banking in India is not possible unless we amend the Banking Regulation Act. This in my view is not imperative.
Had there been any objective of finding possibility to erode the hurdles for financial inclusion of any community who hate involvement in interest based transactions, one could have well concluded that ‘though Islamic banking needs amendments, under prevailing acts in India, interest free banking is quite possible’……………………………………….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
October 2014
M T W T F S S
« May    
 12345
6789101112
13141516171819
20212223242526
2728293031