Hi, I'm Zubair. I'm want to change the banking sector, I want to open an Islamic banking tho not mentioning the name as such coz people might not be interested to bank with as it's related to Muslim,but the concepts and features will be same. I want to lend money without interest so that customers can approach us instead of other banks, therefore building a strong competition,will lend money to businesses and earn profit sharing instead of interest. Will this be a change in Indian customers and is this sounding good? Please advise. Much thanks.
Ans: I am not a banking sector expert, but as i understand, Indian banking sector is highly regulated. You may not be able to do any of these things. Please check teh feasiblity of this from a regulatory and legality point first.