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Market Potential For Banks

Market potential for Islamic Finance Products In India
Islamic Finance is today a global phenomenon with institutions operating in over 75 countries whose assets are estimated at more than US$265 billion. This sector is expected to grow by 33% and touch 1 trillion $ by 2016.
Indian banking laws make Islamic banking almost unviable as they limit banks to accepting deposits from the public for further lending. Also they prohibit banks from investing on a profit and loss sharing (PLS) basis. However, India’s financial system also comprises Non-banking Financial Companies (NBFCs), Mutual Funds, Insurance Companies and Developmental Institutions. The mutual funds, venture capital and a number of likely instruments based on equity financing are considered to be identical to Islamic principles of profit and loss sharing.
These are serious opportunities given the large market size. According to an expert, there are over Rs. 40 billion of funds to be invested by Indian Muslims, who......


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Approximate Word Count: 832
Approximate Pages: 4 (250 words per double-spaced page)

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