Hat tip to regular SFW reader “Ramesh” for calling our attention to this important development…

The High Court in the Indian state of Kerala has now categorically denied any participation by the government in a proposed Shariah-Compliant Bank.

SFW has reported on this developing story twice in the past (again, thanks to reader Ramesh):

http://www.shariahfinancewatch.org/2010/01/11/india-fights-back-against-shariah-finance/

http://www.shariahfinancewatch.org/2010/01/27/more-on-the-constitutional-challenge-to-shariah-finance-in-india/

This is an important victory and has certain parallels with the case against the US federal government for its majority ownership of AIG…

http://beta.thehindu.com/news/states/kerala/article391594.ece

 

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