Which institution recommended an 'Islamic Window' in Conventional Bank

1.	Which institution recommended an 'Islamic Window' in Conventional Banks ? 1. World Bank2. Reserve Bank of India3. International Monetary Fund4. NABARD
Answer» Correct Answer - Option 2 : Reserve Bank of India The Correct Answer is Reserve Bank of India. In order to gradually implement Sharia-compliant or interest-free banking in the country, the Reserve Bank of India (RBI) has suggested the opening of Islamic windows in conventional banks. In this regard, RBI also prepared a report on a technical review and sent it to the Union Ministry of Finance for consideration. Islamic or Sharia banking is a method of finance focused on the principle that interest is not paid. Under Islam, the charging of interest is forbidden. There is no history of Indian banks in the Islamic or Sharia banking market. Islamic finance also has a lot of nuances. The matter also entails numerous regulatory and supervisory issues.

Which institution recommended an 'Islamic Window' in Conventional Banks ? 1. World Bank2. Reserve Bank of India3. International Monetary Fund4. NABARD

Answer» Correct Answer - Option 2 : Reserve Bank of India

The Correct Answer is Reserve Bank of India.

In order to gradually implement Sharia-compliant or interest-free banking in the country, the Reserve Bank of India (RBI) has suggested the opening of Islamic windows in conventional banks.
In this regard, RBI also prepared a report on a technical review and sent it to the Union Ministry of Finance for consideration.
Islamic or Sharia banking is a method of finance focused on the principle that interest is not paid. Under Islam, the charging of interest is forbidden.
There is no history of Indian banks in the Islamic or Sharia banking market. Islamic finance also has a lot of nuances.
The matter also entails numerous regulatory and supervisory issues.

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Which institution recommended an 'Islamic Window' in Conventional Banks ? 1. World Bank2. Reserve Bank of India3. International Monetary Fund4. NABARD

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