NEWS & ADVICE : SAVINGS ACCOUNTS
SBI to launch Shariah based banking in the country
By Vaibhav Aggarwal
Nov 26, 2014
Print    Email    RSS   

State Bank of India announced that bank will launch a Shariah-compliant mutual fund. In the coming month the bank will come up an Islamic financial instrument. For the time bank is introducing such an initiative for the 170 million Muslim population of the country.

The bank has reported that bank has got the RBI’s nod to launch the Shariah complaint. The Islamic banks are a bit different, they offer products such as Sukuk and they don’t charge any kind of interest on them. An SBI official said the country’s biggest lender had received all clearances to launch its Shariah Equity Fun There has been lot many issues regarding the establishment of Shariah-based banking, finally SBI has decided to launch it.


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Personal Finance for the 21st century...
How to check balance in savings bank account
Carnival of Indian Personal Finance Blogs #4
Carnival of Indian Personal Finance Blogs #6
Carnival of Indian Personal Finance Blogs #3


I have an account in DENA BANK. I want to know that...
ACCOUNT STATEMENT
let me know the last 1month transaction of SBI A/C...
Kya mera ATM card aaya hai
how to change the contact number from old to new
HOW TO GET CIF NUMBER OF SBBJ

NEWS THIS WEEK
HDFC bank adjudged as the Best private bank in India Feb 16, 2015
HDFC reported an increase of 20% in its net profit Feb 16, 2015
ICICI bank launched Flash remit facility Feb 13, 2015
BOM launched new savings deposit scheme for HNI customers Feb 12, 2015
BMB bank to have a total of 80 branches by the March end. Feb 10, 2015
News Archive