The Kerala government-promoted NBFI Cheraman Financial Services (CFSL) appears to be functioning in violation of RBI directives, which prohibit it from claiming to be a Sharia-compliant fund. The website of the NBFI mentions that the company operates in a Sharia-compliant manner and intends to become a one-stop shop for all financial products based on the Sharia concept. The RBI has strictly prohibited use of terms like interest-free finance, participatory finance, profit-sharing and Islamic banking, either explicitly or implied.........
The very purpose of VITALINFO is to provide a platform for wider dissemination of updated information related to and happening of events in and around RBI.
No comments:
Post a Comment