Thu, Jul 31, 2014
A A A
Welcome bhaimia
RSS

Islamic Finance Briefing - Categorized | Compliance, Tax, Legal, Regulatory, Finance, Islamic Law / Economics more

India: Registration not granted for operating NBFC on principles of Sharia

Posted on 12 November 2010

From PTI: The Reserve Bank of India today informed the Kerala High Court that it has not issued any certificate of Registration under the RBI Act to any company for carrying out business of a Non Banking Finance Company (NBFC) in accordance with the principles of Shariat.
This was stated in an additional affidavit filed by P Bhaghe, RBI’’s Deputy General Manager, on a Public Interest Litigation by Janata Party leader Subramaniam Swamy, challenging the proposal to start an Islamic Financial Institution on the lines of Islamic banks in the state, with support of Kerala State Industrial Development Corporation……………………………………….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.

July 2014
M T W T F S S
« May    
 123456
78910111213
14151617181920
21222324252627
28293031