📷 Image: Wikimedia Commons / Shagil Kannur
Business
Kerala CPI(M)-Backed Islamic Bank Faces Scrutiny Amid Rising Complaints
✍️ Mid-Day
🗓 13 Aug 2026, 08:33 PM
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An Islamic banking society in Kerala, backed by the CPI(M), is now under scrutiny as a growing number of complaints have been filed against it.
An Islamic banking society in Kerala, which has received backing from the CPI(M), has attracted attention from regulators after a series of complaints were lodged against it.
The society, operating under the principles of Islamic finance, is now being examined for its compliance with banking norms and consumer protection laws.
The complaints, which have been increasing in number, raise concerns about the society’s lending practices and transparency, prompting authorities to launch a formal inquiry.
The society, operating under the principles of Islamic finance, is now being examined for its compliance with banking norms and consumer protection laws.
The complaints, which have been increasing in number, raise concerns about the society’s lending practices and transparency, prompting authorities to launch a formal inquiry.