The Aligarh Muslim University (AMU) will soon start a course called Islamic Banking and Finance, marking the first of its kind in India. A committee consisting of three scholars has been formed to create the modules for the course, chaired by Mohammed Nejatullah Siddiqi. According to AMU’s vice-chancellor, Abdul Aziz, Indian students should get exposure on the potential of Islamic banking.
Currently, there are no Islamic banks in the country, although there are a few institutions on the co-operative level that offer Islamic finance services, such as Al-Ameen Islamic Financial & Investment Corporation and Al-Barr Finance House.