IslamicFinance.de

According to Reserve Bank of India, Indian banks are not legally allowed to involve in Islamic banking operations. Even though India is the country with the third largest Muslim population, Islamic finance has been denied several times already. Due to lack of interest-free banking products people, economically disadvantaged strata of society, cannot access banking products and services because of faith issues. In addition, India is cut off substantial sources of savings from near countries.

More on: http://www.cpifinancial.net/blog/post/15763/interest-free-in-india