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First Islamic Bank in India

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.

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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

Filed Under: News Tagged With: Banking, Islamic Bank, News, RBI

September 2, 2009 by Shabbir Bhimani 241 Comments

Home / News / First Islamic Bank in India

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Comments

  1. M.Selvakumar says

    May 19, 2017 at 4:40 pm

    Dear Sir,
    i belong to Hindu Religion, i need a interest free or low interest loan for Rs,3,00,000/-for my children education.Will the Islamic Banking provide me this offer, i need this at the earliest.
    With Kind Regards
    selva

    Reply
  2. DR.S.RIYAZ says

    April 18, 2017 at 7:55 pm

    DEAR SIR assalam alaikum

    WE ARE EXPORTER OF CARPETS AND MEDICINES .FROM INDIA

    NOW WE ARE LOOKING FOR UNSECURED PRIVATE BUSINESS LOAN/ FUNDING /INVESTMENT OF 3o lakh FOR OUR EXPORT

    BUSINESS FROM PRIVATE FUNDERS/LENDERS/INVESTOR .

    BUT WE WILL NOT PAY ANY UPFRONT /ADVANCE PAYMENT IN ANY

    FORM DUE TO MANY BAD EXPERIENCES WITH MANY FUNDERS /LENDERS .WE DO NOT HAVE

    ANY COLLATERAL .WE CAN GIVE U POST DATED CHEQUES ONLY.

    ONLY DIRECT FUNDERS/LENDERS CONTACT PLZ

    .
    REGDS
    REGDS
    DR. S.AKHTAR
    EAST WORLD INC

    E-eastworldinc@yahoo.co.in

    Reply
  3. zainul abedin says

    December 15, 2016 at 2:24 pm

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

    Reply
  4. Paul Moritz says

    November 3, 2016 at 3:28 am

    Do you need help financially? If yes contact us today via paulhelpfund@yahoo.com for more information… We do offer all kinds of finance services and we are sure ready to help you with your financial needs.

    Contact us today for more information… E-mail: paulhelpfund@yahoo.com
    Mr Paul Moritz

    Reply
  5. Amir Shaikh says

    July 18, 2016 at 1:21 am

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

    Reply
  6. Shahbaz says

    June 8, 2016 at 7:48 am

    I m from bharuch and want 100% halal financial support for start up of my export buisness ,

    Reply
  7. Shahbaz says

    June 8, 2016 at 7:46 am

    I m fro

    Reply
  8. Legacy Asset says

    May 12, 2016 at 1:45 pm

    Do you need a loan low rate of 1.5 % ? Legacy Asset is giving out loan in cheap rate apply now: legacyaseetmanagment@gmail.com

    Reply
  9. parvez says

    November 2, 2015 at 1:15 am

    Dear sir,
    Assalamualaikum
    I want to start a new business
    i need 20 lackh to start detergent soap,dish wash bar, and washing powder in the name of turbo
    please guide me to get interest free loan from islamic bank

    Reply
  10. NASIRUDDIN MIDDYA says

    September 29, 2015 at 10:26 am

    I M NASIRUDDIM MIDDYA, I want to know ISLAMIC BANK address in WEST BENGAL or Kolkata.

    Reply
  11. suiba says

    June 26, 2015 at 3:57 pm

    Dear Sir

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

    Reply
  12. Feroz Shaikh says

    May 31, 2015 at 7:30 pm

    I Am looking for islamic banking career jobs in mumbai or abroad, having an experience of Verification and Collection for last 15 years. Please guide me, My id is shaikhferoz06@gmail.com.

    Reply
  13. javed shaikh says

    May 25, 2015 at 7:12 pm

    Assalam valekum..Islamic bank halal loan.mughe personnel loan ki zarurat hai.agar apki bank sae hosakta hai to bahut meherbani hogee.mera email id-abduljavedshaikh@yahoo.com plz mail me..agar hosakta hai to..allah hafiz..

    Reply
  14. Md Rafi says

    May 25, 2015 at 1:17 pm

    I am looking for 1 lakh Rupees loan from Islamic bank in hyderabad. For business.

    Reply
  15. Abdul says

    May 17, 2015 at 3:45 am

    Assalamu alakum es bandey ka nam abdul hai mey tejarath karta hon aur muj ko 4000000 lakh ki zarurath hai agar koi banda meri madath kary intres haraam nahi dunga beky har mahana 50000 hazar wapes dunga garenty may ghar ke paper jo mery nam ragestry hai aur mery maa ky pas 25 tola gold hay bature garenty dunga aur pust date chiqs dunga plese do thing alaha us ki madat kar tha hay jo dusroki madat karey mey un loguon ko bank ki thara intres nahi dunga lakin dowa zaroor dunga sacha momin hi madath kare ga alaha madath kar ney wala hey aamin

    Reply
    • kgn says

      February 21, 2016 at 1:49 am

      aapka details is par msg kardijiye kgnenterprises115@gmail.com

      Reply
  16. AZEEMUDDIN says

    May 2, 2015 at 12:28 pm

    Azeemuddin

    I AM LOOKING FOR A HOUSING LOAN AS PER SARIYA FINANCE . I AM LIVING IN CHENNAI PLEASE HELP TO FIND THE ISLAMIC BANK IF AVAILABLE IN CHENNAI CITY KINDLY PROVIDE FULL CONTACT DETAILS

    Reply
    • Basha says

      October 24, 2016 at 1:20 pm

      Assalmualaikum Azeemuddin.

      Did you able to get that? If so can you please help me.. pls

      Reply
  17. Fakruudeen says

    March 26, 2015 at 1:45 pm

    Assalamalikum

    i would like to open new account in Islamic Bank Pls guide me my contact No : 8608686868

    Reply
  18. abdul javed says

    February 19, 2015 at 9:25 pm

    Mughe bhi finance chahiyaa..no interest rate.

    Reply
  19. abdul javed says

    February 19, 2015 at 9:23 pm

    Assalam valekum sir mera naam Javed hai.meri choti office mira road mae hai.mughe urgent finance ki zarurat hai.mughe heavy deposit mae flat chahiyaa.mera email id-abduljavedshaikh@yahoo.com.

    Reply
  20. yusuf jameel md omar says

    January 26, 2015 at 11:19 am

    assalam o alaikum , sir i need a 6 lac loan for mariage of my elder sister plus home purpose . sir please guide me. its emergency for our survival.

    Reply
  21. akram says

    January 4, 2015 at 11:34 pm

    Assalamu alaikkum sir iam from bangaore karnataka . iam the only one person working in my home for daily wages so my younger sisters marriage is in may2015 pls help me financial problem . pls arrange me loan in intrest free loan pls sir iam the only person in my home. my father passed 3 years before so iam need of financia help pls its a humble request my no 09743150778

    Reply
  22. mubarak ali says

    December 15, 2014 at 7:41 pm

    Assalamu alaikkum sir I am running a medical shop in chennai Alhamdulillah business is going well still I need some financial assistance to improve my business l need some of aamount fifteen lakhs Insha allah the repayment will be very prompt and reasonable returns

    Reply
    • frooq says

      February 28, 2017 at 9:15 pm

      koi tum ko 15 lakh dega khwab me bhi mat sochna

      Reply
  23. Salim Shaikh says

    April 25, 2014 at 12:28 pm

    As-salaam-alaikum,

    I am a Graphic Designer by profession, since last 15 years I stay on rent, cannot save much to by a house. Can any one guide me how can I make it possible to buy my own house.

    Regards

    Reply
  24. Nasiruddin Ayubi says

    March 26, 2014 at 7:36 pm

    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.

    Reply
  25. shagul hameed says

    March 11, 2014 at 7:11 pm

    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.

    Reply
  26. Abdul Rahim says

    January 16, 2014 at 11:54 am

    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

    Reply
  27. peer shaikh says

    January 2, 2014 at 10:22 am

    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

    Reply
  28. SAHUL HAMEED says

    December 21, 2013 at 12:11 am

    I AM LOOKING FOR A HOUSING LOAN AS PER SARIYA FINANCE.

    Reply
  29. sheik mohamed says

    November 21, 2013 at 9:12 pm

    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

    Reply
  30. sumairaparveen says

    October 12, 2013 at 3:16 pm

    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

    Reply
  31. A.Sheik Mohamed says

    September 10, 2013 at 4:25 pm

    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.

    Reply
  32. Mohammed Nasim says

    August 21, 2013 at 12:02 pm

    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!

    Reply
    • murad md sahidullah says

      September 5, 2013 at 11:59 am

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

      Reply
  33. SHAMIM BETTIAHWI says

    August 12, 2013 at 10:19 pm

    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.

    Reply
  34. Shaikh Shoukat says

    August 4, 2013 at 12:05 am

    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)

    Reply
  35. zainab says

    July 22, 2013 at 12:06 pm

    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

    Reply
    • Mohd says

      December 24, 2015 at 10:10 pm

      Me too zainab if u found any pls inform me my no is 9806776888

      Reply
  36. SHABANA says

    June 25, 2013 at 12:29 pm

    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.

    Reply
  37. HEJAZ AHAMED KHAN says

    June 24, 2013 at 1:58 pm

    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.

    Reply
  38. munawwar shaikh says

    May 1, 2013 at 12:26 pm

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

    Reply
  39. mohammad hanif says

    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
  40. moiz says

    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 says

      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
  41. KULSOOM KHAN says

    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 says

      April 22, 2013 at 7:04 pm

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

      Reply
      • Shabbir Bhimani says

        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
      • syed hafeez says

        June 27, 2013 at 9:55 pm

        Assalamalaikum I want some loan from Islamic bank please send ur details of addressv

        Reply
  42. Mohammed Khadiruddin says

    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
  43. ahmed says

    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
  44. Safeer Khan says

    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
  45. R.M.BASHA says

    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
  46. haris masood says

    March 30, 2013 at 6:46 pm

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

    Reply
  47. Mohammed Rashid says

    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
  48. sana says

    February 16, 2013 at 11:18 am

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

    Reply
  49. Mohammed says

    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
  50. Attavullah says

    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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A trader, investor, consultant and blogger. I mentor Indian retail investors to invest in the right stock at the right price and for the right time. More about me ...

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Shabbir Bhimani

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New Rander Road,
Near Causeway Circle,
Rander Surat - 395009
Gujarat India
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