RIEF

Deuband and Islamic banking:  A marriage of charity and markets and its implications for educational reform and poverty alleviation It is reported that Deuband has started a countrywide initiative for Islamic banking training in India http://goo.gl/7aNcyM .  Deuband's excellence in organizing charity Deuband is one of the most important stakeholders of the Indian and Pakistani societies. In the first place it must be acknowledged that the Deuband oriented Madaris are providing educational services to about 6 million poorest of the poor children of Pakistan. India, Bangladesh and Indonesia are some of the other countries where Madaris also play a similarly significant role in their respective societies. In Pakistan, like the other countries cited, Madaris are financed by charities, awqaf and zakat contributed by the public annually (over Rs. 96 billion). Hence Madaris are not a source of burden on the government  resources and need all encouragement and appreciation for