Tagged: Reserve Bank of India

RBI has a positive approach towards Islamic banking: Minister

ASIA / Islamic Finance

2013-02-19

RBI has a positive approach towards Islamic banking: Minister

The Reserve Bank of India (RBI) has taken a positive approach to the suggestion of an alternative banking system for Muslims after K. Rahman Khan, Minister for Minority Affairs, emphasized that it was the duty of the State to facilitate every citizen t…

Politics, laws weigh on Islamic finance in India

ASIA / Islamic Finance

2012-12-21

Politics, laws weigh on Islamic finance in India

Indian Islamic finance industry is still facing legal obstacles on allowing Sharia-compliant banking products in the country. Indian Muslim minority which is the largest in the word, nowadays cannot access Islamic financial services as the sector requi…

Interest-free in India?

ASIA / Islamic Finance

2012-09-20

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 looks to start Shariah-compliant financial products

Islamic Finance

2010-05-14

India looks to start Shariah-compliant financial products

“India needs to actively consider allowing introduction of Shariah-compliant Islamic finance products to channelise savings of the muslim community” said K Reh-man Khan, deputy chairman of Rajya Sabha.
Khan said the mutual fund industry is the best veh…

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