IslamicFinance.de

The launch of an interest-free financial firm in the south Indian state of Kerala would have a dramatic impact on development activities in the state.
Opening a seminar on "Prospects of interest-free banking" at the Town Hall here, Isaac said the availability of funds without interests would boost development projects across the country.
The seminar was organized by the Kerala State Industrial Development Corporation (KSIDC), which has 11 percent stake in the newly launched Al-Baraka Financial Services, which operates on Islamic principles.