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Bankers ask Govt. to allow Islamic banking

NEW DELHI: International and domestic banks, led by the Indian Banks; Association (IBA), on Friday pitched for allowing Islamic banking in India. “It (Islamic banking) is an idea, whose time has come. The IBA will study the concept, but will wait for the regulatory framework by the RBI to run it,” IBA Chairman M. B. N. Rao told reporters here on the sidelines of a conference.

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