Group roots for deepening of Islamic finance

NAIROBI, KENYA: A lobby group has called for the review of regulations governing Islamic banking and Sharia'h compliant products offered by conventional banks so as to resolve the issue of interest rates which is prohibited in Islam.

The group, Bayt-ul-Maal Kenya, led by a Muslim scholar Sheikh Abdul Walid Ahmed, say they are currently collecting signatures from faithful to petition the Muslim leadership in the country to support the idea.