Islamic Financial Banking in India

Al Baraka Financial Servies Limited will start their function in India on February 28 2011. 

Director Board Meeting will be conducted on this Week. Al Baraka will be having a Capital of 1000 Crores.

Individual who like to take up shares in this Company will be alloted up to a maximum of 9% Shares and No persons will be alloted shares of more than 9%.

Chairman of Al Baraka Financial Servies Limited will be Galfar Muhammed Ali.

Vice Chairmans will be C K Menon, M A Yusuf Ali and

KSIDC Planned to take Shares in Al Baraka. Doha Bank had agreed to take 46% Shares in Al Baraka Financial Servies Limited.

AL Baraka will function according to the Instructions from Reserve Bank and Securities Exchange Board of India (SEBI). This Islamic Financial Institute is for all and ther is no connection with Religion in this but this is functioning according to Islamic Sharia.

Recently Court Gave Permission to Start Islamic Financial Institution in India.

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