India to get its first Islamic bank: Is it OK foa secular country like India? What if we also start demanding Hindu bank ? will the congress Govt headed by italian sonia will permit suach an entity?
In Islam earning thru interest is Sin.. and they have a typical way of generating fund thru Participation of investment in the Economy and share of profit. This is a great approach towards economy upliftment, since this generates funds and capital and raise employement.
Whereas, Western Banks.. live on Interest on Capital such as Loans, Credit Cards etc..that actually regulate market.. This benefits the Producers and traders.. and bank survive on the commission of the trade, i.e. transaction.. Here ultimate users get trap of Market mafias..
We are presently under the grip of Western Bank.. which has actually harmed the Economy.. It is NO HARM to try Islamic Bank..
Regarding Hindu Banks.. all our Nationalised Bank work on Indian banking system, which is a mixed breed of interest, corpoarate support and financial guarantee system and DOING QUITE WELL..