.........The fundamental objective of the interest-free banking system is to eliminate exploitation of borrowers. It considers lending as an investment and distributes investment risk between the users and suppliers of funds. It has been proven that this type of banking will be a vital tool to move into the league of major financial centres of the world and achieve development and growth of the Indian banking sector, foreign participation in large-scale infrastructure projects, and active participation of around 20 per cent Indian citizens living in the country and abroad in banking and financial activities............
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