Kerala Chief Minister Oommen Chandy has assured full
support to the interest-free banking system based on the Islamic
government will extend full support and cooperation to the
interest-free banking system so that it may be used for the
development of the state and we will try to attain the central
government’s approval for it", Oommen Chandy said while
inaugurating a national seminar on Interest-free Institutional
Mechanism for Banking, Finance and Insurance held in
Thiruvananthapuram July 04.
"Islamic banking is not a dangerous suggestion. The government
would clarify doubts and go forward", he added.
He also said that the services
of the Al Baraka Financial Services would be utilized as one of
the ways to increase investments if needed.
government will go forward with the good moves taken by the last
government and the Al Baraka was one such move. Some feel
discomfort with the term ‘Islamic banking’, but instead of just a
name we should see if it will be useful for the society", he said.
The seminar was organised jointly by the Department of
Islamic Studies in the University of Kerala, the
Thiruvananthapuram Chamber of Commerce, the Indian Centre for
Islamic Finance, the Indian Association for Islamic Economics, the
Al Barakah Financial Services Limited, the Sequra Investment and
Management India Private Ltd, the Ecotech Builders and the
Alternative Investments and Credits Ltd.