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Efficiency and Competition of Islamic Banking in India - Secura Investments

  • Date Submitted: 11/14/2013 11:52 PM
  • Flesch-Kincaid Score: 31.9 
  • Words: 500
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Islamic Banking is the system of banking consistent with the Shariah law. Normally, the Islamic Banking concepts are accepted worldwide and are prohibited by the payment of interest or ‘Riba’. This novel concept has received encouraging response from all over the world. While obeying the principles of Shariah, this banking system offers innovative financial solutions for basic financial needs in underserved markets to complex financial requirements of modern times. With considerable growth potential, Islamic Banking System is referred to as a socially responsible and ethical banking model.

The concept of Islamic banking has got great momentum all over the world and huge potential is there for Islamic Banking in India. In India Islamic banking system is flourishing even with the prohibition of interest. Islamic financial method has drawn its strength from the asset backed nature even with the exemption of interest and also because of its speculative nature. Indian Islamic financial Institutions serve as an ideal financial model in resolving economic problems and aims at establishing a fair society. Islamic bank in India has shown impressive track record over the last few years and has created peak expectations among stakeholders and investors.

Islamic Investment fund constitute one of the emerging areas of Islamic Finance. Islamic Mutual fund Industry in India is nowadays generating better returns. The availability of Islamic Indexes and the appointment of Shariah board advisors in conventional bank have boosted up the Islamic banking system considerably. Indian Mutual funds have evolved into a peak growth comprising domestic and foreign investors. Mutual fund have attracted new small and individual investors to mutual fund concept and sparked a surge of creativity in the Indian Mutual fund industry. Mutual fund investment has enabled investors in achieving better returns and to hold up diversified investment portfolio.

Secura, an Islamic finance company...

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