A great post on the Indian economy blog on the various facets of Islamic banking,
 Is Islamic banking the magic bullet which will pull India’s Muslims into the financial system and enable them to access credit and secure their savings?
No.
A much bigger problem faced by India’s Muslims is that the majority of them are too poor to be targeted by the banking system as serious customers. Financial exclusion of the poor is a much bigger worry for them than the absence of Islamic banking. And of course there’s the whole issue of ‘negative areas’, which I’ll address shortly.
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