A Division Bench of the Kerala High Court on February 3 dismissed writ petitions filed against the government sanction for starting a Non Banking Finance Company by the Kerala State Industrial Development Corporation (KSIDC) based on Islamic principles.

The petitions were filed by Janata Party president Subramanian Swamy and others.

The bench consisting of Chief Justice J. Chelameswar and Justice P.R. Ramachandra Menon said that when the KSIDC proposed to carry on bu...

Islam stands for circulation of wealth in an economy. This is a basic tenet based on which Islamic approach towards wealth may be understood. An in-depth study of Islamic moral teachings and provisions of the Islamic law (Shari’ah) shows that the objective of circulation of wealth has been ensured and adhered to. We shall glance through some of the moral teachings and the legal provisions of Islam in search of this particular aspect.