16.10.2012 - India Govt, RBI mull ways to introduce Islamic banking
India may be closer to allowing Islamic banking than ever before with the central bank and the finance ministry discussing ways in which rules need to be changed to allow the interest-free practice thatís compatible with Shariah law. Demands by Muslim groups over the past few decades to allow the method have thus far been stalled because of concerns over incompatibility and fears that it could be used as a conduit for terror funding...............................................Full Article: Source
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