29.01.2010 - India: Islamic banking safe play
From Telegraphindia.com: The government of India appears wary of introducing an interest-free Islamic banking system in the country at a time some Congress politicians and Muslim financiers are making a pitch for it. The Shariah prohibits collection or payment of interest, so many Muslims now avoid opening bank accounts. Advocates of Islamic banking say that introducing Shariah-compliant banking ----- where banks neither pay interest on deposits nor charge interest on loans ----- would benefit 15 crore Indian Muslims and also the economy by helping unlock the huge sums uninvested by the community......................................Full Article: Source
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