By Md.Ali, TwoCircles.net,
New Delhi: Ethical investment should be promoted in the country. This view was expressed by D.R. Mehta, former Chairman of Securities and Exchange Board of India (SEBI) and deputy Chairman of Reserve Bank of India(RBI) .
“Ethical investment goes on to develop the society. It can help in promoting the interests of the underprivileged people in the community”
He was speaking in a seminar titled ‘Emergence of Ethical Investment: Issues and Practices’. which was held at India Islamic Cultural Centre in New Delhi on 14th of June.
Ethical investment which is at the core of the Islamic banking lays emphasis on moral considerations following Islamic rules. According to Islam earning interest is unethical.
Mr. Mehta also pointed out that the giant business leaders should come out and float products on lines of Islamic laws.
He further explained that major Infosys has already launched
‘Islamic Banking Solution’ for market in Europe and West Asia, to meet the requirements of Islamic laws known as ‘Shariyah’.
Speaking on this occasion, Mr. K.Rahman Khan, the Deputy Chairperson of Rajya Sabha , who also presided over the seminar ,said that India should promote Islamic banking as a participative option taking cues from the UK.
It should start Islamic investment on the lines of Bank of England which has brought a regulatory mechanism for such ethical investment.
The seminar was Jointly organized by the New Delhi based NGO, Institute of Objective Studies(IOS) and Indo-Arab Economic Co-operation Forum(New Delhi)