WORKING HOURS
CALL US
MAIL US
THE FRONTLINE- OCT 23, 2009
For the first time a debate over real economic issues concerning the Muslim community is taking place and a demand is gradually emerging that the government should take specific measures to introduce Shariah-compliant banking products so that a vast section of Muslims who fail to access banking services for reasons of faith can avail themselves of these services and improve their lot. The demand for what is popularly called Islamic banking, which is essentially interest-free banking, has started emerging from within the community. A forum of Muslim intellectuals, parliamentarians and bankers and Islamic scholars, called the Indian Centre for Islamic Finance (ICIF), is spearheading the demand, which is slowly taking the shape of a popular movement."News Updates
-
Attractive destination: Saudi Arabia plans investments worth $100 bn in India
NEW DELHI : Saudi Arabia, the world's biggest oil exporter, is looking at investing USD 100 billion in India in areas of petrochemicals, infrastructure and mining among others, considering the country's growth potential. Saudi Ambassador Dr Saud bin Mohammed Al Sati has said India is an attractive ...
Read More -
Indian banks should exploit untapped potential in Islamic banking: Experts
By Ashwini Shrivastava Singapore, Oct 28 (PTI) Indian and foreign banks should exploit Islamic banking''s untapped potential to ensure the financial inclusion of “unbanked” populations excluded by the existing financial system, several experts have said. Islamic banking is a finance ...
Read More -
NEW HALAL OPTION IN KERALA'S SAVINGS SCHEME FOR EXPATS IN UAE
The Kerala State Financial Enterprises (KSFE) Pravasi Chitty, the savings scheme for expats from the state, is now Shariah-compliant, an Indian minister said in Abu Dhabi. Kerala's Finance Minister Thomas Isaac said the chit fund scheme is now available with an additional 'halal' option and...
Read More -
To Check Farm Suicides, India Will Have To Start Interest-Free Banking: Bangladesh Top Banker
To Check Farm Suicides, India Will Have To Start Interest-Free Banking: Bangladesh Top Banker India will have to start interest-free banking system in order to check the growing number of farm suicides, said a top banker of Bangladesh here on Friday. Md Abdul Awwal Sarker, General Manager, Resear...
Read More -
IMA PONZI SCAM: THE UNRAVELLING OF AN INVESTMENT FRAUD
When the Bengaluru-based IMA Group of Companies wound up its operations, it not only left thousands of investors in the lurch but also raised questions on political patronage to Ponzi schemes that are being run in the name of Islamic banking. Imran Gowhar and K.V. Aditya Bharadwaj report on the scam...
Read More -
ISLAMIC BANKING CAN TAP INTO NEW SOURCES OF FINANCE
Khurshid Ahmad Najmi ( Legal Advisor , ICIF , Partner -Link Legal India Law Service, Former Legal Advisor Reserve Bank of India) The biggest problem with the term ‘Islamic bank’ is that it carries the word ‘Islam.’ It is almost l...
Read More -
ICIF PLANS SLEW OF MEASURES FOR FINANCIAL LITERACY
The Annual General Body meeting of Indian Centre for Islamic Finance (ICIF) was held at its office in the national capital on June 30 to take stock of the prevailing Islamic financial situation, progress made, and to formulate guidelines and roadmap for the next financial year and to analyse the...
Read More