Tag Archive | Sharia Banking
Recently SEBI has allowed four mutual funds to launch Sharia funds in India. However, RBI continues to find Islamic banking ‘inconsistent with the existing laws’.
Islamic finance industry has undergone a transformation in the last few years. Today it has started asserting itself as an alternate system of finance. This industry has made a mark by its rapid growth not only in Muslim countries but also in other secular and developed nations as well.