Sunday, February 6, 2011

Islamic Banking in India

Some time back, RBI carried out a study of exploring to introduce Islamic Banking in India but gave up.  However, the concept has been floating around in India in some form or other including training institutes having been set up.  Although it is not all that simple to understand, Islamic Banking seems to be prevalent in quite a few countries including USA.  We need to seriously study the concept and philosophy of Islamic Banking now because Kerala High Court is reported to have allowed this being set up in Kerala.  Let us wait and see.....

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