Govt. of India urged to allow financial bodies to adopt Islamic practices
The International conference's conclusions on "Prospects for Islamic Venture Capital Funds in India" were that India needs to make steps to allow various financial institutions to adopt Islamic products and practices and to lay foundations of a level playing field in economics and finance in which all players are alloud to take part in a fair and just manner.
The organizers of the two-day International conference were the Institute of Objective Studies, (IOS), New Delhi and Indo-Arab Economic Cooperation Forum. The conference was held on May 14 & 15 May at the Parliament House Annexe. Foreign participants at the conference were: Dr. Rudy Yaksick, Partner, Concord Capital Partners LLC, from USA and Khaled M. Al-Aboodi, CEO & General Manager of Islamic Corporation for the Development of the Private Sector (ICD), Jeddah; Mr. Nabil El-Alami, Corporate Marketing & Communication Manager, ICD, Jeddah, KSA.