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Can India afford to ignore Islamic banking?

Posted on 19 July 2010

From Ummid.com: The recent statement of MS Swaminathan, the father of green revolution in India, that Islamic banking can be a solution for farmers’ suicide in Vidarbha is apt reply to those opposing it tooth and nail by terming this banking system as anti-economic growth.
It is truth, nothing but truth, that exorbitant lending rates charged by moneylenders have created a vicious cycle of debt and suicide not only in Vidarbha, but also in several parts of the country……………………………………….Full Article: Source

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


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