Are Islamic Banks to Enter Indian Market?

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1 September 2010


  • It is not RBI which had constituted the committee but Planning Commissoin GOI under Dr Raghuram rajan, former chief Economist IMF named Committee on Financial Sector Reforms-CFSR which recommended Interest free Banking in the country
    ICIF-Indian Centre for Islamic Finance is striving for the introduction of Islamic banking for the past several years. Recently it has submitted a document to RBI to introduce Interest free windows in afew conventional banks as a pilot Project.
    Kindly see our website

    congrats for writing the story on IB&F

  • Is it true that Islamic Banking is interest free ? how its possible ? then how bank get money for its own function..?

  • Hello Abdur,

    Thanks for reading the article, apologies for getting it wrong, who else can point to these minute details other than ICIF. Wish you good luck for all your efforts on Islamic banking initiative.