First Islamic Bank in India

by Shabbir Bhimani on September 2, 2009

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

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{ 193 comments… read them below or add one }

munawwar shaikh May 1, 2013 at 12:26 pm

asslamwalaikum i need personal loan without interest ????????? my no 9970028143 pls call me

Reply

mohammad hanif April 23, 2013 at 9:00 am

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

Reply

moiz April 22, 2013 at 11:46 pm

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.

Reply

Shabbir Bhimani April 24, 2013 at 9:15 am

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.

Reply

KULSOOM KHAN April 21, 2013 at 10:25 pm

asslamualekum

mujeh school start karna hai isliye 10 lac ki zarurat hai .please send ur contact number or contact me on 9827666608

Reply

syed April 22, 2013 at 7:04 pm

please send me your location address you are which part of india

Reply

Shabbir Bhimani April 24, 2013 at 9:12 am

Syed, I am from Kolkata and you can find my address on my sites at many places.

Reply

Mohammed Khadiruddin April 17, 2013 at 11:07 am

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

Reply

ahmed April 15, 2013 at 6:16 am

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

Reply

Safeer Khan April 11, 2013 at 4:21 pm

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

Reply

R.M.BASHA March 31, 2013 at 3:38 pm

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

Reply

haris masood March 30, 2013 at 6:46 pm

salamaleykum,
i need contact number of islamic bank and all its detail of banglore.

Reply

Mohammed Rashid March 22, 2013 at 6:25 pm

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

Reply

sana February 16, 2013 at 11:18 am

i need loan of amount 10 lakhs with out interest can u tell me the details

Reply

Mohammed February 2, 2013 at 9:14 pm

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

Reply

Attavullah February 2, 2013 at 12:37 am

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

Reply

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