First Islamic Bank in India

Islamic Bank cannot be called a Bank in India because of RBI guidelines to provide interests to customers and in Islamic banks you do not have the option for Interests. As so called Islamic Banks currently in India do not have the status of Bank most Islamic Bank are called Financial Institutes and cannot issue cheques. For Details read Islamic Banking.

But now it looks like there is a change and we may have first Islamic Bank in India.

The first Islamic bank in the country with active involvement of the Kerala government is likely to start operations in Kochi by next year as the bank’s registration formalities are currently being fulfilled on a war footing. The Kerala industries department is actively involved in the new initiative and a high level meeting held at Kozhikode on August 12 had approved a project report prepared by Ernst & Young.

Read the full story here

Comments

  1. Nasiruddin Ayubi says

    i a working in a private company, i would like a interest free loan of 7 lakhs, i have gold of my wife which can be placed as collateral for the loan.

  2. shagul hameed says

    I have borrowed 5.5lacs for my marriage, so i have to repay the amount which i have borrowed.I am working in a MNC company, So will pay it 10,000 per month, So i request you to help me to repay the amount.
    Please contact me 9843583248/8682028210.

  3. Abdul Rahim says

    Asslamalaikum,

    Iam working as Manager in a Export Company.Iam in need a intrest free loan of Rs 5 Lakhs.My Current salary is 35,000 per month.I can repay Rs 15,000 per month Insha Allah pls contact me at 08056196886 – Abdul Rahim from Chennai – Jazak Allah Khair

  4. peer shaikh says

    Assalamu alayekum…..janab mohatram hazrat mera naam peer mohd shaikh hai aur mai mumbai malad main rha ta hu or main kam photo ka kam kar ta hu or mare upar karza hai jo 3 lakh ka hai muje lone chiya tha janab agar ho sak ta hai to please mari help kijya No:-09967990250

  5. sheik mohamed says

    I need a home loan of Rs. 20lakhs my monthly salary is rs.23000/ I’ can pay an emi of Rs. 13000 /-pm . pls. help me

  6. sumairaparveen says

    I need a loan of Rs. 22lakhs my monthly salary is rs.32000/ I’ can pay an emi of Rs. 15000 /-pm . pls. help me

  7. says

    Assalam alaikum, Sir.

    Iam looking for loan to continue my higher studies,(MBA) information Technology. About 40,000 and this studies will take me to a good position insha allah !. Already i worked in kuwait in Hyundai Engg const pvt Ltd. as a system admin. Now iam in home. Last january i came from kuwait in exit, due to project end, and Studied MCITP. Looking for a job in gulf. Now iam in poor condition. Please give a suggestion. Thanks and Regards.

  8. says

    Sir, Assalam-o-alaikum wrh
    It is a great news that atleast the Islamic Bank is coming in India. Hope in a few years, this will spread in every state & every city of India.

    Allah kare kam se kam Muslim interest sood ke chakkar se chutkara paa jaye Ameen!

    • murad md sahidullah says

      as salam
      islamik bank policy is healthy prigramme to muslim brotherhood for their religion based mentality. now we need the same in kolkata.

  9. SHAMIM BETTIAHWI says

    ASSALM ALAIKUM SHABBIR BHAI.

    I WANT TO PERSUE ISLAMIC BANKING RELATED COURSES. I WANT SOME HELP FROM YOU REGARDING THE I. B. System. WHERE I CAN DO MY COURSE.

  10. Shaikh Shoukat says

    Assalamu alayekum…..janab mohatram hazrat mera naam shoukat shaikh hae aur mai shiradhon zila osmanabd maharashtra se hun main mobile technician hun .is k alawa mere paas kuch bhi nahi mere uper ghar k panch afrad ki zimmedari hae mera chota sa dukan hae woh bhi dihaat k wajhase khasa nahi chal pata…agar mere paas 3lac rupaye ajaye to karobar me badhotri kar main kamyab ho sakta hun..is liye agr aap 3lac rupiye without intrest loan denge ..to main jald az jald wapas karne ki koshish karoonga..ek imaan wala agar imaan wale ki madat karega to allaha tabaarkthu tala us ki madad ykareng …so baraey maherbani aap meri madat kijiye..main aur mere gahar k tamam afrad ap k sukr guzar rahenge ..allaha aap ko zazaye khayer de….AMEEN..SUMMA AMEEN(mere contact No:-09881050497 aur Acount No:- sbi bank ac No.31100216904.Hae)

  11. zainab says

    Dear Sir

    I would like to know , if there are any branches of ISLAMIC BANK operating with interest free in Mumbai.Kindly provide full contact details.
    Thanks & Regards.

    REPLY

  12. SHABANA says

    Dear Sir . . . A – S – A – K !

    I would like to know , if there are any branches of ISLAMIC BANK operating in Mumbai & what are the eligibility criteria to seek placements.
    Kindly provide details & oblige.
    Thanks & Regards.

  13. says

    Aswk i have intereted in you are Bank jobs i have 5yr experience in N B F C and i have complete post graduation in M B A (Finance).and iam presently as a Branch Manager
    in india infoline finance ltd.my contact num ber is 9986412554/8867422580.

  14. says

    We are the plywood manufacturer in south india manglore
    Looking for islamic loan about 3 crores. We have bank loan
    We have to come out of bank loan. What can I do
    Give me suggestion

  15. moiz says

    Dear, Shabbir,

    Daily iam coming across lots of comments on this site regarding the Islamic loans. As of my knowledge there is nothing like Islamic loan in India.i cant understand y all this people are asking Islamic loan to you. As per my knowledge you dint reply to anyone till date.

    • says

      Moiz, this is my personal blog where I shared news about Islamic bank is an option Indian Government is considering but then it is not something that will not be an option that soon and so I have not responded to those comments. I even get calls asking if I am an Islamic bank or not but then people actually don’t tend to read what is written and I don’t blame them either.

      Yes I read all the comments though.

  16. Mohammed Khadiruddin says

    Assalamu alaikum wa rahmatullah
    Dear Sir,
    Firstly i thanks to allah for you start and think about HALAL bank, its helpful for Ummah.
    and i thanks to you for think about this Islamic Bank, So I have a Printing Business, Alhamdulilla i have a own Business, But i want to improve that my business, but i dont have more amount to purchase any printing machinary, so i want Halal loan by your Islamic Bank.. Rupees of 1.5 Lack. So if you want to help Please send reply to my email id.and my contact number is : +91 9035582664

  17. ahmed says

    as salamu alaikum
    i am ahmed from sindhanu distict raichur
    i need 3 lacs for business pls send ur contact no or contact me 7411401934

  18. Safeer Khan says

    Assalamu-Alaikum,
    brother i have my own business,
    but now Insha Allah i would like to purchase a 2 bedroom flat in mumbai,
    i need an interest-free SHARIA loan of Rs.30 lakh,
    insha Allah im ready to pay Rs. 35,000|- to rs.40,000|- monthly EMI,
    plz give me your contact numbr,
    or plz contact me as soon as posible on +919930505388,
    Jazaak-Allahu-Khairaa

  19. R.M.BASHA says

    Insha Allah i would like to purchase a 4 bedroom flat (12 years old) at chetpet,Chennai and i need an interest-free SHARIA loan of Rs.60 lakh. I have four sons, all employed and am retired person . I would insha Allah prepared \ ready to pay Rs. 30,000|- to rs.35,000|- monthly as loan instament. All my sons have employed and we are living together. Will you help me to get interest free sharia loan by mortgaging the flat. Please e-mail your reply.R.M.BASHA, e-mail: rmbasha786@gmail.com

  20. Mohammed Rashid says

    Assalamu Alaykum ,
    I need Rs 14 lakhs home loan or 10 lakhs personal loan pl get in touch at 9820353424 or 9892136590 .

  21. Mohammed says

    Dear Sir
    ASM
    well,seen all comments, good., but please show already
    Loan borrow’s name List with Mobile and Landline No.
    Because some doubt
    Bank provide loan to outside muslims or only………………bank staff people
    and their close people.Dont mint it. Hope Islamic Bank knows Islamic rules

  22. Attavullah says

    Assalaam mu alaikum wa rahamathulahi wa barakathuhu,

    I am Attavullah form chennai. I need loan 3 lacs for my family financial problems. Please send ur contact no or contact me on 08122204741.

    Thanks & regards,
    A.Attavullah

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