04.02.2011 - Kerala high court paves way for India’s first Islamic bank
From Indiatimes.com: The Kerala high court on Thursday dismissed a petition challenging the state government's plans to co-promote an Islamic finance institution. The move could pave the way for introduction of Islamic finance products by existing lenders and also reduce regulatory objections for an Islamic Bank. On Thursday, a division bench comprising Chief Justice J Chalameswar and Justice P R Ramachandra Menon dismissed petitions objecting to the creation of an Islamic financial institution and said the proposed body was to work in accordance with financial laws of the country even while it complied with sharia rules..............................................Full Article: Source
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