In the context of RBI mooting the Idea of adopting Islamic Banking for financial inclusion, consider the following statements about Islamic Banking 1. Islamic or Sharia banking is a finance system based on the principles of not charging interest. 2. The c

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Q: 17 (Current Affairs-NOV/2016)
In the context of RBI mooting the Idea of adopting Islamic Banking for financial inclusion, consider the following statements about “Islamic Banking”
1. Islamic or Sharia banking is a finance system based on the principles of not charging interest.
2. The charging of interest is prohibited under Islam.
Which of the above statements is/are not correct?

question_subject: 

Economics

stats: 

0,39,88,12,8,68,39

keywords: 

{'islamic banking': [0, 0, 0, 1], 'sharia banking': [0, 0, 0, 1], 'finance system': [0, 0, 0, 1], 'financial inclusion': [0, 0, 1, 6], 'charging': [0, 0, 0, 1], 'islam': [3, 0, 6, 5], 'rbi': [1, 4, 2, 23], 'interest': [1, 3, 3, 15]}