Thursday 24th Jan 2019
Radiance Views Weekly
You are here: Home »  Inside India
Text size: A | A

RBI URGED TO ACCOMMODATE ISLAMIC FINANCE WITHIN CONVENTIONAL BANKING REGULATIONS

Inside India

Referring to the statement made by Dr D Subbarao, Governor Reserve Bank of India that Islamic Banking is not possible in the present Indian banking regulations, H Abdur Raqeeb, General Secretary, Indian Centre for Islamic Finance (ICIF), in a letter to Dr Subbarao, said that several secular, modern and industrialised countries have accommodated Islamic finance and banking within the conventional banking regulations which are similar to ours. Such countries include the UK, France, Singapore, Hong Kong, etc.

“It is requested that without waiting for the government to take a political decision, RBI under your dynamic leadership should start a pilot project/ window for which ICIF has submitted a detailed project to both RBI as well as the Finance Ministry,” says the letter. “The marginalised and the minorities – the aam aadmi who is outside the banking and financial sector look forward for this alternative banking system which is participatory and risk sharing model that will go a long way for inclusive growth of this neglected segment,” it added.



Top
Change of Guard in Pakistan
Dawn of a New Era in Sight
Vol. LI No.8, 2013-05-26
Change of Guard in Pakistan Dawn of a New Era in Sight
ISLAMISTS UNDER FIRE 
From Egypt to Bangladesh
Vol. LI No.20, 2013-08-18
Change of Guard in Pakistan Dawn of a New Era in Sight
Political Implications of Ban on Bangladesh Jamaat-e-Islami
Vol. LI No.19, 2013-08-11
Change of Guard in Pakistan Dawn of a New Era in Sight
Egypt's Al-Sisi Dragged the Country into Civil War
Vol. LI No.18, 2013-08-04
Change of Guard in Pakistan Dawn of a New Era in Sight
The Scourge of Alcoholism and Drug Abuse
Vol. L No.43, 2013-01-20
Change of Guard in Pakistan Dawn of a New Era in Sight
Arab Spring: Promises and Challenges
Vol. L No.21, 2012-08-19
Change of Guard in Pakistan Dawn of a New Era in Sight
Just World Order
Vol. XLIX No.43, 2012-01-29
Change of Guard in Pakistan Dawn of a New Era in Sight
Let Us Refuse to Be Provoked
Vol. L No.27, 2012-09-30
Change of Guard in Pakistan Dawn of a New Era in Sight
The Islamists and Western Blinkers
Vol. L No.15, 2012-07-08
Change of Guard in Pakistan Dawn of a New Era in Sight
Death, Disappearance and Despair in India
Vol. L No.13, 2012-06-24
Change of Guard in Pakistan Dawn of a New Era in Sight
Subscribe 
 
Focus Issue
 Enter your Email:
Submit