Communalisation of Banking Sector, Swamy’s petition postponed to Jan 5

via HK published on December 8, 2009

Kochi: The Petition filed by Former Law minister Subrahmaniam Swamy against the implementation of Islamic Bank by Kerala Government, is postponed for hearing on 5th January.

Communalisation of Banking sector is against the Constitution and Reserve bank policies , highlighted Swamy in his Petition.

Experts in the field have linked the financial crisis reported from Dubai when whole world is recovering from recession with the Islamic banking practiced there.

Kerala Government had initiated this to woo the minority vote bank and security experts too have raised their concerns against giving free hand to Middle East investors in the proposed Bank headquartered in Kochi.

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