In this speech to the staff of the Reserve Bank of India delivered on May 14, 2007 at the RBI, Central Office, Mumbai, the author offers some comments on the challenges posed by financial liberalisation drawing a comparison with France. The lessons that can be drawn from a comparison with the...

The paper has argued that to expand coverage of micro-pensions, social entrepreneurship (along with social responsibility) will be needed by the financial sector, including the MFIs, insurance companies and mutual funds. Such entrepreneurship should aim to drastically reduce overall transaction...

In this paper, the foundational rules governing human, economic and financial development in Islam, as understood from the Quran and from the life and traditions of the Prophet Muhammad (pbuh), are summarized. These rules pave the path to development as the basis of institutional structure,...