ICIF urged CM Nitish Kumar to introduce Interest free concept in Bihar

Bihar Chief Minister Nitish Kumar has been urged to take benefits of interest-free Islamic finance for the infrastructure development of Bihar.   H Abdur Raqeeb, Convenor, National Committee on Islamic Banking, met the CM here on Wednesday and urged him to use huge pool of liquidity lying in the Gulf States. “State of Bihar is fortunate to have you as a Chief Minister, who is determined to take the state to new heights of development and remove the backwardness and un...
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ICIF delegation meets Secretary, Financial Services Mr Shashikant Sharma

A Delegation of Indian Centre for Islamic Finance (ICIF), New Delhi called on Mr Shashi Kant Sharma, Secretary (Financial Services) under whom the banking sector of the country is operated to discuss the need and relevance of Islamic Finance in India. The delegation consisted of Mr Muddassir Siddiqi, a Shariah scholar and US-trained attorney, Mr Khurshid Najmi, former joint legal advisor, RBI and Partner, India Law Services, New Delhi, and Mr H Abdur Raqeeb, General Secretary, ICIF and Conven...
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ICIF delegation meets Prime Minister's Economic Advisory Council Mr Vijay Shankar Vyas

The Indian Centre for Islamic Finance (ICIF) has made out a strong case before Prime Minister's Economic Advisory Council member V. S. Vyas for introducing interest-free banking in the country at the earliest to ensure “inclusive growth with innovation” in accordance with the recommendations of the Planning Commission's Raghuram Rajan Committee. An ICIF delegation from New Delhi, led by its general secretary H. Abdur Raqeeb, met Prof. Vyas at Yojana Bhavan here over the weeke...
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ICIF delegation meets RBI Deputy Governor Mrs Shyamala Gopinath

Dec 27,2010: A delegation of ICIF led by its GS, H Abdur Raqeeb met RBI Deputy Governor Mrs Shyamala Gopinath at the Central office of RBI in Mumbai to discuss the introduction of Interest free banking in India. The delegation pointed on introducing Interest free banking windows along with the conventional banks within the existing Indian Banking Regulations 1949. It submitted documents and also highlighted the recent developments and stands adopted by secular and modern countries in this reg...
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FM Urged to introduce Interest free window and interest free Microfinance

A Higher power delegation of Indian Centre for Islamic Finance (ICIF) headed by H Abdur Raqeeb, General Secretary, ICIF and Convenor, National Committee on Islamic Banking called on the Union Finance Minister , Shri Pranab Mukherjee at his residence at Kolkatta on 4 December 2010, urged him to expediate the process of introducing interest-free banking for the marginalised and the minorities in the background of setback in microfinance institutions as well as the RBI’s rural initiative re...
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Justice Krishna Iyer backs Islamic banking in India

A major campaign to introduce Islamic banking and finance into India was kicked off in the Kerala city of Kochi on Friday with Justice Krishna Iyer taking the lead. "I welcome Islamic finance in India," said Iyer, a former Supreme Court judge.   "Islamic finance has proven successful in poverty alleviation and promoting sustainable growth in many countries, including the United States, and it is very relevant in our country where 20 million people are starving," Iyer...
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Website launching programme

May 28, 2010 - New Delhi “ICIF is striving to present Islamic economy and financial system as an alternative to the prevailing conventional system based on free trade and controlled economic systems. It is on the one hand creating awareness among the masses how Islamic financial system is humane, based on ethics and beneficial to all segments of the society and more particularly the marginalized and unorganized sector. It is networking the individuals and institutions working in this fi...
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ICIF delegation meets Minister of State for Finance on Interest Free (Islamic) Banking

April 18, 2010 - New Delhi A Muslim delegation consisting of Engineer Muhammed Saleem, President, Jamaat-e-Islami Hind, Rajasthan, and Mr. H. Abdur Raqeeb, General Secretary, Indian Centre for Islamic Finance met Naro Naramain Meena, Minister of State for Finance in New Delhi to discuss the feasibility of Interest Free (Islamic) Banking in India. Mr. Saleem submitted a Memorandum on behalf of Rajasthan Muslim Forum consisting of Jamaat-e-Islami Hind, Mansuri Panchayath, All India Majlise Musha...
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Islamic Banking in India: Interactive Programme with University Students

    MARCH 29, 2009 – New Delhi An interactive programme was held with the students of Al Jamia Al Islamia University, Santhapuram. During the programme an interactive session was conducted by Mr. Mohammed Abbas Ansari, Credit Risk Officer of Abu Dhabi Islamic Bank. In this interactive session, key issues related to the prospects and methodologies of ‘Islamic Banking’ were discussed. Mr. H Abdur Raqeeb, Gen. Sec. ICIF delivered a PowerPoint presentation on the topi...
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Experts meet to discuss Banking Regulations (Amendment) Bill-2009 to introduce Interest Free (Islamic) Banking

December 01, 2009 – Mumbai Indian Centre for Islamic Finance (ICIF) organized a consultative meeting of financial experts at Islam Gymkhana in Mumbai to discuss the draft of the Banking Regulations (Amendment) Bill-2009 to amend the existing Banking Regulations Act 1949 (10 of 1949) in order to introduce Islamic banking based on the principles of Shariah. All the experts agreed to the point that Islamic Banking is one of the fastest growing industries in the world and even the European c...
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