Making Sense of Onion Economics in India: Can Islamic Finance Help?

I was motivated to write this piece by the story of a poor farmer in India. The story of this 48-year old farmer Devidas Parvane from the Rasai village of Pune in Maharashtra state in India as reported in the mainstream media captures a classic unresolved problem of agricultural finance in India. The farmer brought…

Islamic Finance in India: A New Beginning?

It was an Indian scholar, Dr Muhammad Nejatullah Siddiqi who provided the first theoretical model for an Islamic bank in his celebrated book “Banking without Interest” in the 1960s. He went on to contribute immensely to the development of Islamic economics as a discipline. Way back in 1996, the Xavier Institute of Management in Bhubaneswar, India…