28.01.2010 - Deputy Speaker of Indian Council of States pitches for Islamic banks in India
From ANI: In what could spark off another controversy and provide fresh ammunition to the opposition BJP on the issue of minority appeasement, the Deputy Speaker of the Rajya Sabha ( or the 'Council of States' is the upper house of the Parliament of India) and senior Congress party leader K Rahman Khan today urged the government to create a Sharia-compliant institutional mechanism in the banking sector. He called it "Participatory Banking". Khan told media that Sharia-compliant banks should work as an alternate banking system, similar to what existed in the UK, Russia and the U.S. "Mutual funds and venture capital funds are in tune with Islamic laws," Khan added.....................................Full Article: Source