InfrasoftTech Boosts Islamic Finance Business

The recent Islamic Finance Conference hosted in Mumbai, has initiated an era where India centric fund managers and bankers may also commence their Islamic Finance business.

Islamic Finance is growing at a rapid pace of 15-20% per annum globally, currently estimated to be worth approximately $300 billion. Retail and Investment banking Shari’ah compliant products are helping to unlock funds lying dead with high networked individuals and corporate world globally, who follow Shari’ah principles in their day to day business and thus would not participate in usual financial transactions.

InfrasoftTech is a provider of full service enterprise wide technology solution that provides end-to-end automation of retail, wholesale and investment banking services that are fully Shari’ah compliant. InfrasoftTech has built a portfolio of 25 financial institutions in the world market that are in the process of finalising or implementing Shari’ah Compliant Islamic Finance technology solution.

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According to Hanuman Tripathi, CEO, InfrasoftTech, "All the sophisticated financial products one sees in the global markets today, would be available in Shari’ah compliant business processes. People often misunderstand Islamic Banking as a form of business that is merely devoid of interest. In reality, Islamic Finance has sophistication that requires complex business processes to be incorporated and dual compliance to be managed at FI level."