By TwoCircles.net Staff Reporter,
New Delhi: The New Delhi-based Indian Centre for Islamic Finance (ICIF) is organizing a consultative meeting at Islam Gymkhana in Mumbai on December 1, 2009 to discuss about the draft on the Banking Regulations (Amendment) Bill 2009 to amend the existing Banking Regulation Act 1949 (10 of 1949) in order to introduce Islamic Banking based on the Principles of Shariah.
Islamic Banking is one of the fastest growing industries in the world and Europian countries are introducing it. India is among the fastest grwoing nation and with the introduction of Islamic fianace it can do the miracles.
The proposed draft bill has been prepared by Mr. Khurshid Najmi (former joint legal adviser, Reserve Bank of India), and modified by Dar Al Shariah, Dubai Islamic Bank.
Prominent legal and banking and finance experts will attend the meeting. Mufti Barkatullah (Shariah Advisor Lloyds Bank, UK and Islamic Bank of Britain, UK) will preside and Mr. H Abdur Raqeeb (General Secretary, ICIF) will convene the meeting. Other expected participants are: Dr. Abdul Hasib (Former Executive Director, Reserve Bank of India), Mr. M. A. Batki (Former Legal Advisor, Reserve Bank of India), Dr. Rahmatullah (Islamic Economist), Mr. Abdul Rasheed (Trustee, ICIF) and Dr. M. Y. Khan (Former Economic Advisor SEBI, and Chairman of Madhya Pradesh Stock Exchange).