Islamic Bank cannot be called a Bank because of RBI guidelines but it looks like time has changed and Kerala may have first Islamic Bank Next year.
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
Dear Shabbir,
Thanks a ton for the prompt response. 1st thing, pls tell me how shud i search for my previous question posts in your website ? Bcoz everytime i have to search out for my posts, is there anything like creating a profile and then managing our respective posts ?
Yes you can but you can do that without registering as well and when you get email about the updates you also get a special link to all your subscribed posts and you can use that.
ASSALAMUALIKKUM ,,,,,,,, I AM ASHAPAK NADAF. I AM PURSUING BBA DEGREE. I WANT TO INTREST FREE LOAN FOR ESSAY TO LERN MBA , BECAUSE I HAVE NO MONEY TO LERN MBA . PLS INFORM ME ,PLS GUIDE ME, REPLY ME ,YOU KNOW ABOUT ANY INFORMATION MY MOBILE NO 9021310687 PLS HELP ME THANK
A/A
I am a graduate and I want to persue MBA but i don’t have money,so can i fetch an Interest free loan from somwhere?
plz help me
The only Univertsity in INDIA which offer an full time MBA program in ISLAMIC FINANCE AND BANKING is Crescent Business School of B.S.ABDUR RAHMAN UNIVERISTY IN CHENNAI which formerly known as Crescent Engineering college which is run by B.S.Abdur rahman Conglomerate group of ETA DUBAI.
I have a commercial space in a thickly populated Muslim area of Ahmedabad, Gujarat and I wish that Islamic Banks or institutes may start its operations in the area to develop the habit of Islamic banking in the area.
Please guide me and reply me if you have any information or interested
Thanks
Assalamualikkum
Dear Brother.,
i want to invest money for future without interest.
please advise
Dear sirs,
Assalamu alaikum,
My sister’s husband expired suddenly ( last month ), while she has 3 childrens – one got married (girl) two boys one is earning and the other is studying.
She wanted to invest the money of her husband in the Bank where the interest could bring some relief for his family
As I am against this view as the interest is Haram, could we get any islamic banking solution, where he meagre amount could be invested on some business and the share could be obtained which belief Halal.
Please post your views on my mail enable her to support the family requirement.
Alla hafiz
Ahmed
assalmu alikum sir ,this asha abdulla working as a teacher in maldives , my husband also working in same country,i am looking for a homeloan in islamic banks where ther is a interest free loan,could u please guide us .
i hope allah will give a reward for u my brother
whether there is islamic banking in tamilnadu
asak,
i looking for a loan (interest free) from an islamic bank to buy a flat in hyderabad, please quide me how can i approch.
assalamualikum,
please suggest are there any schemes as per islam in nationalised banks in india
allhafiz
juneed
Dear Hussain,
Assalaamulaikum!
Is your company facilitating Licence for Islamic Banks?
Looking forward to hearing from you.
Regards,
Tanveer
As salamulakum
I am in banking sector from past 15 yrs. If your bank needs any help in getting banking license from delhi pls do not hesitate to contact on my e mail We are in banking licence sector
Thanks
Hussain
Please can you suggest with any bank or financial institution which runs under sharia law and can provide me home loan in Kolkata-India.
it is really very nice to hear about islamic bank i salute the founder of this bank
he is actual a good human.
i give all the blessing for growth of this bank and pray dua for his family member.
Assalamu Alaikum,
Is there is any institution in India providing Interest – free loans based on Sharia for business purposes. If any one knows, Kindly pass on the address and other details. Jazakallah.
Assalamualaikum,
i wanted to know whether there is option for car loan in india which is riba free.?
Assalamualaikum,
Please tell me Islamic Bank in india for Intrest Free Home Loan.
Any Islamic Banks in India for taking housing loans.
Salam alikum Br Shabir,
Do you have any updates on the Islamic Banking in Kerala? i am looking to find some investment / Loans for the start up i am working on. Jazak Allah khairan,
Niaz
i m lukin for summer interns
i m a student of pgd financial markets
9833027429
ASWK,
Sir, I want to know is there any company in Hyderabad providing Summer internship project in Finance for PGDM students. If yes then can you give some references or their contacts.
It will be very wonderful if you mail me at (hossain08021987@gmail.com)
faizal.ishani@gmail.com
r u interested in starting islamic bank in mumbai.please contact.
Dear Shabbir,
There is alot of demand in hyderabad for islamic Banks basically because hYDERABAD IS A MUSLIM DOMINATED AREA and we have usually seen how they are being exploitated because of lack of knowledge. I would love to be associated with this and let me know what needs to be done to start it in Hyderabad , India.
awaiting your reply
Aamir, I am not the right person to answer that but yes there is some movement coming on this and RBI personnel will be the right person to help you on this matter.
Plz Provide 1500000Rupee Home Loan without Intrest.
As-salaam-alaikum
I am interested in Home Loans, but only want to have one in the Islamic way.
Could you please advice me about Islamic Banks in Mumbai?
It would be very helpful.
I can be contacted at fariha_kazi@yahoo.com
Dear brothers,
ASAK
Please advice institute which offer diploma in islamic Banking . I am banker With ICICI want to Learn Islamic Banking
I am a client of WealthCity Investments
They are into Shariah Compliant Investments, Like other stock brokers they are also providing all facilities like online trading etc but all in a Shariah Compliant Way.
They are tied up with Religare
They also advice on funds tax savings etc.
Their website is http://www.wealthcity.in
Contact them they are good
I know of an Institution in Chennai which provides diploma in Islamic banking and finance
Manamuna academy
I have a contact no of a person related to them
Abrar +919940319452
You can contact them for more.
I think they also guide on Islamic Investments
its good to know, dat islamic bank is going to establish in india,we prey for quick establisment..
asalaamwalikum ,
i want to invests in a policy but in a islamic way …….for eg i want to save money for my ammi and abba as they are very old . i want to invets in mediclaim etc etc …….pls advice !!!!!
also advice me the bank name ….thansk
one more request i dont visit this site …..pls reply me on my mail id saba_10mar@yahoo.co.in………..thanks
assalaam waalaikum…… i wanted to know that is there any institute offering mba in islamic banking in india… i want to study because i believe it is a challenge for me i found that almost all the institutes is in malaysia which is not possible for me to go to malaysia to study as financial problem. please could you tel the scholorship or institution offering higher study abroad education loan.i am in very confused about wat to do.please suggest me valuable advice.please reply. Thanking you
Dear Brother Shabbir,
Thank you for your email.
But arent there any Islamic Banks and NBFC in India? May I request you to share their contact info if you have any.
Many thanks,
Mohammed Tanveer Ali
I do not have it
Dear Shabbir,
ASAK!
I have Post Graduate Diploma in Islamic Banking & Finance. I have 10+ years of Sales & Business Development experience of which 3 years is in the Financial Services and Insurance sector.
I am looking for a job opportunity in a Islamic Bank or NBFC in India. I would like to know the contact information of all Islamic Banks and Financial Institutions in India where I can explore a career or job opportunity.
Looking forward to hearing from you.
Kindest regards,
Mohammed Tanveer Ali
Mohammed Tanveer Ali, I am not sure if there is good oppurtunity in India in your expertise related to Islamic Banks.
assalaam waalaikum…… i wanted to know that is there any institute offering diploma or degree in islamic banking in india… i want to study it…i found that almost all the institutes is in malasia which is not possible for me to go to malasia n study as i am doing my MBA( in finance) here… please reply….
REGARDS….
I want to know about the branches of Islamic Bank in India
Assalamu-Alaikum!
i would like to know if there are any islamic banks in mumbai providing interest free home loans if yes can i get the contact address…please do the needful waiting for u reply!
Assalaamualaykum! Alhamdulillaah, its nice to see that the people will benefit largely from the Concept of Islaamic Banking. Please keep me updated about the various avenues that come up for investment/loan. http://www.islam-qa.com/en/ref/47651/bank
aslam alaikum brother, i need know there is any islamic bank ribba free to invest fund in hyderabad deccan andhra pradesh please give reply
aslam alaikum brother,i need know if there is any financial institution or islamic bank without interest providing home loan on shariha in hyderabad deccan andra pradesh please give me reply
syed, w/Salaam and I have no idea about Hyderabad
Assalamu alaikum,
I had completed under graduate degree and now i wanna to persue a post gratuate degree in abroad. Can you tell me some banks r finacial assistance who will give a loan without an interest. My native is Chennai, Tamil Nadu, India
W/Salaam and I am not aware of institute in your locality
Let me know the interest free home loan provider in Chennai.
Assalaamualaikum Brother,
I want to know if there is any Financial Institute in Pune which can provide HOME LOAN which is Riba-Free ?
Also , if there is no such institute in Pune then, how different is the procedure to get home loan from places outside pune or India (what all extra parameters get involved in case of ‘out of town’)?
I have no idea about Pune.
brother, assalamunalikum may peace and mercy of allah s.w.t. be on u.. brother i just want to know is there any bank riba free.. islamic banking if any than i want to invest in that bank please reply me…
nizamuddin, nothing as of now but soon we can expect.
Dear Mr. Shabbir,
I need to know if there is any financial institution providing home loans on shariah principles, in Mumbai or for Mumbai. Pls revert.
I have very little idea about the actuals but there is some I can tell you that in Mumbai.
I opened demat with indiainfoline recently. but their software I find very slow. My configuration is dual core 2ghz 1gb ram. Could u give me idea which company’s software is simple and fast enough to work for small investor like us?
Religare and Motilal are Good enough and the speed probably is also dependent on your internet speed
ASSALAMALAIKUM, SIR M AN STUDENT AND JUST COMPLETED MY GRADUATION, AND MY AIM IN MY LIFE IS TO DO SOMETHING BIG AND I WANTED TO STUDY IN ABROAD AND ALLHAMDOLLILAH..! I ALWAYS PERFORM MY ALL ACTIVITIES ACCORDING TO THE SHARI RULES AND ORDERS, DUE TO LACK OF FINANCIAL SOURCES MY WISHES TO STUDY IN ABROAD ARE LOCKED IN MY HEART HOPE YOU WILL UDERSTAND ME, ACTUALLY M LOOKING FOR A LOAN FACILITY FOR MY FURTHER STUDIES AND SIR YOU KNOW HOW THE INDIAN BANKS TO OUR PEOPLE,AND I DONT WANT TO DEAL WITH THESE INTEREST TRADITION ALSO, SIR PLEASE HELP ME AND REPLY SOON AS POSSIBLE THAT, IS THERE ANY EDUACATION LOAN FACILITIES ARE AVAILABLE OR NOT FOR ME..
In India we already have Financial Institution for education loan and you need to contact them for loan. They are not called banks because of the reason I have them above.
SSALAMUALAIUM ,
ITS A GREAT PLEASURE TO KNOW THAT WE HAVE SUCH A WONDERFUL CONCEPT OF ISLAMIC BANKING .I WAS REALLY KEEN AND WAS LOOKING FOR SUCH AN INSTITUATION WHICH HAS ISLAMIC SHARI BANK.
ALHAMDULLAIH WE ARE INTO GLASS INDUSTRY SINCE 60 YEARS IN KOLKATA AND KANPUR(INDIA) , WE ARE PLANNING TO HAVE A NEW UNIT OF MIRROR MANUFACTURING WITH THE LATEST TECHNOLOGY OF ALUMINIUM CATING MIRROR , ITS THE LATEST TECHNOLOGY WOULD BE INTRODUCED IN INDIA , EVEN GOVERNMENT IS GIVING SUBSIDY ON THIS PROJECT ,WE HAVE A GOOD BACK GROUND OF MIRROR MANUFACTURING AND WE STILLL MANUFACTURE WITH OLD TECHNOLOGY OF SILVER COATED MIRROR WHICH IS NOW VERY COSTLY , NOW SINCE WE INTEND TO HAVE THIS DONE WE NEED SUM OF 1 CRORE AND WE WANT IT TO BE DOT THROUGH SHARIA ,AS I DONT WANT TO INDULGE IN INTEREST MAIN REASON BEING HARAM IN ISLAM AND I HAVE BEEN WAITING SINCE THREE YEARS DUE TO LACK OF FUNDS AND UNAVAILABILITY OF ISLAMIC BANK AND ONCE I CAME ACROSS YOUR BANK I WAS OVERWHELMED AND I IMMEDIATELY SENT U THIS MAIL.
INSHALLAH I EXPECT A POSITIVE RESPONSE FROM YOUR SIDE.IF NEEDED I CAN ALSO VISIT AND HAVE A DETAILED DISCUSSION AND U CAN KNOW US AND OUR BACKGROUND BETTER IN BOTH ISLAMIC AND BUSINESS T HAVE ALONG TERM COOPERATION AND HELP ME TO ABIDE BY ISLAMIC LAW AND DO WELL.
ASSLAMUALIKUM .
KALIM UR RAHMAN
+91 9831604864
It is nice to see that a different banking model is getting started in Kerala. Common man is normally benefited through interest free loans introduced by these types of banks. Islamic banks across world offer accounts similar to savings account and current account. They also offer an investment account; money deposited in this account is used for investments in sectors/industries that are supported under sharia principles. Everyone can access products and services of these banks. They normally work on the basis of profit and loss scheme (PLS). If investment done by bank in a particular sector is profitable then that profit is shared between the bank and its customers who invested money in that particular investment. It is basically apportioned based on the contract between them.