Islamic financial institutes beneficial to infra: Study Runa - TopicsExpress

Islamic financial institutes beneficial to infra: Study Runa Mukherjee Parikh, AHMEDABAD: Infrastructure is at the top of the newly appointed Prime Ministers priority list, and it can get a facelift from various Islamic financial services due to features likes avoidance of charging interest on principal (Riba), according to a study undertaken at Cept University. Yash Majeethia, MTech, infrastructure engineering and management, faculty of technology, Cept University, and Tushar Bose, assistant professor, faculty of technology, Cept, have authored a study, Islamic Financial Instruments an Opportunity for Financing Infrastructure in India that has been published in Journal of Business Management and Social Sciences Research recently. According to the study, introduction of Islamic finance can play a crucial role in order to bridge the gap and support India in achieving anticipated growth projections, especially in infrastructure sector; as operations in Islamic financial system are characterized by avoidance of Riba, the money invested cannot be channelized in other areas.

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