Posts tagged as: India

Juris Corp opens in Chennai, with Islamic banking expert Hufriz Wadia

Juris Corp opens in Chennai, with Islamic banking expert Hufriz Wadia

Juris Corp is about to open an office in Chennai, the opening is scheduled for next week. Two weeks ago Hufriz Wadia, who is a former Wadia Ghandy associate and the sister of long-time Mumbai partner Hoshedar Wadia, became partner at the company. Her focus of operation will be growing the firm’s banking, corporate, dispute resolution and real estate practice in Chennai. She will particularly concentrate on Islamic finance.

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Politics and law weigh on Islamic finance in India

Politics and law weigh on Islamic finance in India

Islamic finance in India is strongly limited by the country’s ban on sharia-compliant banking. However, the industry intends to create a work-around by developing specific products that can take this function. Due to the political and legal obstacles a…

More investors eye entry into Shariah-based funds

More investors eye entry into Shariah-based funds

Indian private equity firms are more and more interested about entering Shariah-based funds market. According to Taqwaa Advisory and Shariah Investemt Solutions, there are at least six financial institutions with plans to issue Shariah-compliant funds…

Financial Inclusion for Muslims in India: How Can Islamic Finance Help?

Financial Inclusion for Muslims in India: How Can Islamic Finance Help?

Ethica Institute of Islamic Finance in partnership with Infinity Consultants recently released a live talk titled „Achieving Financial Inclusion for Muslims in India – How Can Islamic Finance Help?“ It is held by Saif Ahmed, Managing Partner at Infinit…

Islamic banking not possible: Subbarao

Islamic banking not possible: Subbarao

D. Subbarao, governer of RBI, explains that because of legal issues, Islamic banking will not be possible in Kerala. This is the only state in the country which has been striving for introduction of Islamic banking. RBI has already addressed Indian gov…

RBI Needs to Evaluate Principles of Islamic Monetary System

RBI Needs to Evaluate Principles of Islamic Monetary System

The only tool (of interest rate) for RBI to control liquidity for balancing inflation and growth rate is not enough resulting in the inability to allow India grow better without inflation. Trying to exert control on inflation, RBI fails in terms of int…

Jeddah-based group lobbies for interest-free banking in India

Jeddah-based group lobbies for interest-free banking in India

Prime Minister Manmohan Singh has been urged by The Jeddah-based Indian Forum for Interest-Free Banking to clear huddles for granting license for Shariah-compliant banks and financial institutions to operate in India.
In a petition submitted to the pri…

Interest-free in India?

Interest-free in India?

According to Reserve Bank of India, Indian banks are not legally allowed to involve in Islamic banking operations. Even though India is the country with the third largest Muslim population, Islamic finance has been denied several times already. Due to …

India offers vast scope for Islamic banking

India offers vast scope for Islamic banking

It was reported that Indian authorities intend to introduce some form of interest-free banking. Thus, the country’s unbanked Muslim populations shall be brought into mainstream banking. This initiative is likely to result in a huge rise in Islamic Ba…

Islamic banking opens job options

Islamic banking opens job options

A huge number of experts in Islamic finance are needed due to continually emerging markets in India and abroad. Since already 75 banks all over the world have Islamic banking and finance branches, job opportunities for as much as 50,000 experts are ope…

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