Thursday, March 11, 2010

Islamic Banks!!! A welcome story..

Islamic banks are about to get a permit to enter the Indian Subcontinent..Sashi Tharoor and other ministers are mulling on the idea whether to give a go to these banks.These banks serve not only to muslims but serve equally to all the religions which is a misnomer in every Indian mind..These banks have a wide presence in countries like Malaysia. These would act as a boon for many people as they have a policy to charge no interest to the loans being disbursed. Which mean interest free loans..Well a question may arise as to how these banks would generate profits! Well these banks work on a concept of investing money in real estates which no other Indian banks are allowed. So lets see how it goes!!!

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