Finance Minister T.M. Thomas Isaac has said that the State government will start Islamic banks within two years.
Delivering a talk on ‘Alternative Economic Thoughts in Recession’ organised by Markazu Ssaquafathi Ssunniyya at Karanthur here on Friday, Dr. Isaac said that capitalist economic system triggered the economic recession in 2008.
But Islam presented an alternative financial system based on non-interest finance, he added.
The Minister said that studies to implement non-interest finance system were progressing.
Kanthapuram A.P. Aboobaker Musliyar presided over the function. P.T.A. Rahim, MLA; A.P.Abdul Wahan; C. Muhammed Faizy; A.P. Abdul Jakeem Azhari; Abdussalam; and A.K. Hameed also spoke.
