IslamicFinance.de

The 95% Muslim Population of Kashmir among which pre-eminent section is far away from modern banking system because of its Ribah (Interest) meticulously verboten by Qur’an. Kashmiri business class also desire for an alternative banking system; here the preferable economic management is visible since the decades. Various federations should be designed for the micro establishment of Islamic banking in Kashmir by taking the examples of Kerala, Maharashtra and various other Micro-economic institutions running in the country. The Non-banking Finance Corporations, Investment Alternative Credits should be introduced for the economic deprived section of Kashmir.