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Scope of Islamic Banking in Kerala

Scope of Islamic Banking in Kerala

[flashvideo filename=http://jaihoon.tv/studio/flv/jaihoon-banking.flv&image=http://www.jaihoon.com/wp-content/gallery/islamic-banking/IMGP3452.JPG /]
Jaihoon’s speech at the One Day workshop on “Islamic Banking and Finance

Muslims in Kerala enjoy three exclusive features which entitle them to adopt Islamic Banking:

1. Potential population – Muslims are the second biggest community in the state. And in districts like Malappuram, Calicut and Kannur, they outnumber more than other communities.

2. The community is led by very capable political and religious leadership which has paved way for their prosperity in comparison to their counterparts in other states of India. Several groups run schools and colleges in a systematic and organized manner. The political will to implement the Islamic banking is easily available. Institutions of higher religious learning can provide the intellectual backing required for the research and development of Islamic Banking concepts.

3. Finally, there is no dearth of funds as Muslims in Kerala are perhaps the wealthiest in the country having the highest standard of living. “There is at least Rs5,000 crore of unclaimed interest in Kerala alone. People prefer to put their money in gold or jewellery, which is the worst kind of investment from an economic point of view,” says an expert.
These above factors necessitate the founding of Islamic Banking in Kerala much earlier than in any other part of India.

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how islamic is “islamic banking” ? i have heard many complains that it is just back door riba.

Ahmadkhan S. Pathan

Asalam-Alaikum-wama-barkatohu. This is Ahmadkhan S. Pathan. Now you tell me our islamic bank of kerala details . i am intrested in islamic bank .
Ahmadkhan S. Pathan
Yavatmal, Maharashtra.india

Ningaludey islamic banking sambradayam kooduthal ariyanum, athil invest cheyyanum thalparyamundu.ma ssalam

This will not work. Partly religious motivated. There is no proof that u will be in heaven if u give high service charge to Islamic bank lol.. This bank is against RBI regulations. Black money will leak into the system. lots of people can convert black money to white.. easily.

Is the Islamic banking constitutional? Does the constitution of India permit a banking system which runs as per Shariat?

Kerala is already split on the basis of religion in all aspects. An Islamic Bank will be the last nail in the coffin of a secular Kerala. We should be starting Secular banks, not Islamic banks, with low interests.

For 14 years worked in Gulf countries, and heard about Islamic bank.
If you provide loan to start some small business in Kerala for Gulf Returners it is a good help.

Lot of people return from Gulf ( age between 45 to 55 )and still leaving same as beggers.To find a job in Gulf also difficult due to age problem.

So loan provide with small interest is a good thing .

Thanking you

Islamic bank in kerela is based on the philosophy of shariah. It is not something thats promoting a particular religion. India is a secular country where all the people have a right to follow any philosophy as they wish…

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