Kerala Chief Minister Pinarayi Vijayan will open the state’s first Islamic bank in the cooperative sector on December 24 in Kannur, reports UNI.
Islamic or Sharia banking is defined as a system of finance without interest.
Addressing journalists, President of the Cooperative society M Shajar said that computer operations will be unveiled by the Minister for Ports.
Sajjar said the Muslim community is interested in building a society that does not approve of taking interest from the banking sector.