State Bank of India to launch Islamic fund

[anonymus]

Wait sometime till Subramaniyam swamy throws a spanner in the works, he stopped islamic banking before too in court, he might do the same now.

If muslims are going to buy equities in name of debt, why shouldn't SBI make money off them?

AFAIK Court banned dedicated sharia banks, not sharia instruments. Islamic bonds would find favor among bankers as it would allow them to sell equity in name of debt to muslims.

 

[wolfschanzze]

If muslims are going to buy equities in name of debt, why shouldn't SBI make money off them?

AFAIK Court banned dedicated sharia banks, not sharia instruments. Islamic bonds would find favor among bankers as it would allow them to sell equity in name of debt to muslims.

Lets see what the rules are,but expect Subramaniyam swamy to take this to court.