Government has no intention to consider introducing Islamic banking: Mukhtar Abbas Naqvi

Mumbai: Minority Affairs Minister Mukhtar Abbas Naqvi at a meeting of Haj Committee of India at Haj House in Mumbai on Friday. PTI Photo by Shashank Parade (PTI4_14_2017_000190A)
Vastavam web: India has a wide network of different banks to meet the financial needs of people and hence the government has no intention to consider introducing Islamic banking, Union minister Mukhtar Abbas Naqvi today said.Islamic or Sharia banking is a system of finance in which interest is not charged.
“In India, the government will not allow Islamic banking, because India is a secular and democratic country,” the minister for minority affairs told.”Some organisations and some people had made a suggestion on this issue (to introduce Islamic banking), but we do not have any such intention,” he said.On the winter session of Parliament, Naqvi said the government was willing to discuss all important issues and sought the Congress’s support for smooth conduct of proceedings in both the Houses.