Governor, Dr. Reddy once commented that, “capital account liberalisation is a process and it has to be managed keeping in view the elasticity in the economy, and vulnerabilities or potential for shocks.
With all these developments, I am optimistic about the future of Islamic finance in the country. We now have the much awaited and much needed regulatory framework to usher in a vibrant Islamic Finance industry marked by multiplicity of players. This is not to say our work is done. We could even say that the work has just begun.