‘Interest-free finance has high investment opportunity in India’

Kochi: India can attract good investment from middle-eastern countries once the country accepts interest-free finance system, said Dr Mudassir Siddiqui, noted interest-free banking expert. He was speaking to media persons in Kochi, where he had come to attend the international seminar on Islamic economy.

Dr Siddiqui said that several institutions and individuals in the West Asian countries were in high hopes of getting investment opportunities in India which is moving forward as one of the biggest economic powers. India’s traditional relations with the Arab countries would help in choosing the country as a major centre of investments.

According to major international consultancies such as the McKenzie, investment surplus in the West Asian region is expected to be around $ 9 trillion by 2020. The investment surplus at present is around $ 1.5 trillion. The country can attract a considerable portion this huge investment potential by developing an appropriate policy and regulatory network. The regulations for an interest-free economic system can be formulated in such a way as not adversary to the current system. Continue reading