(MENAFN - Arab News) Indian and international Islamic banking experts have welcomed Reserve Bank of India's decision allowing operation of an interest-free non-banking financial company (NBFC) in Kerala, saying it would encourage the country's 200-million-strong Muslims to participate in the country's development projects. "It will have a big impact on the Indian economy and contribute to the expansion of Islamic banking and finance worldwide," said Mohammed Azmi Omar, director general of the Islamic Research & Training Institute, an affiliate of Islamic Development Bank.........
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