IslamicFinance.de

Taking advantage of the situation emerging out of the economic crisis in Eurozone and countries like United States, India should adopt the Islamic Finance System to pump-in investments from the Middle East. This interest-free and more inclusive system will in turn accelerate the financial inclusion of the Indian Muslims.
Dr Shariq Nisar, Director of Research and Operations of India’s premier shariah advisory firm TASIS and one of the senior most professionals of Islamic Finance in India, was in Malegaon to address a seminar on "Prospects of Islamic Finance in India".
Pointing at the demands in the country of reliable and committed investors in stock market, and banking and insurance sectors, he added that while China and the Middle East are the two areas in the world where surplus funds more than their requirements are generated, the Arab world doesn't have such problems.

Dr Shariq Nisar is the architect of India’s Shariah Index teaches Islamic Banking and Finance at Aligarh Muslim University, BS Abdur Rahman University, Chennai, Al-Jamia Al Islamiya, Kerala and at many other institutes and Madarsas in the country.
Regarding the recent fall in the stock market and its correlation with Islamic indices the world, he states that their performance during financial crises is generally better due to the fact that scrips connected to interest-based activities are excluded from Islamic indices.
His oppinion about the future of the crisis is that a new set of countries may emerge which will replace the old developed world as the economic powerhouses of the world.