With the recent expression of interest by Turkish Islamic lender Bank Asya to set up shop in India, along with the launching of the S&P BSE 500 Shariah Index last month, things from an Islamic finance perspective, seem to be finally picking up in the world’s third-largest Muslim community. However, with no legislations in place for Islamic banking, market experts remain concerned over the prospects of the nation’s Shariah compliant finance industry. “It’s all a matter of political will,” shares....