Regret RBI decision to not pursue Islamic banking: Mirwaiz Umar Farooq
November 17, 2017 17:35
Moderate Hurriyat Conference chairman Mirwaiz Umar Farooq today expressed regret on social media over the Reserve Bank of India's decision not to pursue the proposal of introducing Islamic banking in the country.
"Govt (is) blinded to the benefits that Islamic banking can bring to its people and overall economy. As per the IMF, Islamic finance assets grew at a double-digit growth rate from $200 US billion in 2003 to $1.8 trillion at the end of 2013 that include non-Muslim countries (like) China, Germany, UK & US," Mirwaiz said in his Twitter post.
In a major move, the RBI decided not to pursue a proposal to introduce Islamic banking in the country. -- PTI
"Govt (is) blinded to the benefits that Islamic banking can bring to its people and overall economy. As per the IMF, Islamic finance assets grew at a double-digit growth rate from $200 US billion in 2003 to $1.8 trillion at the end of 2013 that include non-Muslim countries (like) China, Germany, UK & US," Mirwaiz said in his Twitter post.
In a major move, the RBI decided not to pursue a proposal to introduce Islamic banking in the country. -- PTI
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