- LATEST
- WEBSTORY
- TRENDING
BUSINESS
Giving in to demand, J&K Bank willing to offer Islamic banking: Chairman Parvez Ahmad
Chairman Parvez Ahmad said there was no question of competition with private sector banks.
Updated : Mar 22, 2018, 03:05 AM IST
 "J&K Bank")
TRENDING NOW
)
Sudhanshu Pandey makes big statement on Anupamaa co-actor Rupali Ganguly's stepdaughter allegations: 'It's not good...'
)
Shweta Tiwari's wedding photos with Bigg Boss 13 contestant Vishal Aditya Singh go viral, here's the truth behind them
)
This Pakistani Influencer's private video leaked online, days after Minahil Malik and Insha Rehman's clips
)
No mention of Aaradhya Bachchan in Amitabh Bachchan's post on birthdays, it happened recently
)
Amitabh Bachchan opens up on Aishwarya Rai-Abhishek Bachchan divorce rumours
)
Meet richest footballer of 2024, not Cristiano Ronaldo, Lionel Messi, his net worth is...
)
Gautam Adani's BIG Rs 16877 crore plan to take on Mukesh Ambani, set to build Mumbai's largest...
)
'Good to be back': After breaking up with Malaika Arora, Arjun Kapoor reunites with his 'partner-in-crime after ages'
)
Amid divorce rumours with Aishwarya Rai, Abhishek Bachchan tells Amitabh Bachchan: 'I hope people don't...'
)
Amitabh Bachchan praises Abhishek Bachchan's new film, netizens ask 'kash ye Aishwarya...'
)
Virat Kohli's tweet mistaken for 'divorce announcement' from Anushka Sharma, fans compare to AR Rahman's separation post
)
Amid divorce rumours with Aishwarya Rai, Abhishek Bachchan says he'll do 'whatever it takes' to be there for Aaradhya
)
Samantha Ruth Prabhu shares inspirational poem ahead of Naga Chaitanya, Sobhita Dhulipala wedding: 'Force your heart...'
)
Model's bold dance in towel at India Gate raises eyebrows, netizens say arrest her, watch viral video
)
AR Rahman, Saira Banu to separate 29 years after marriage due to 'significant emotional strain': 'Couple has found...'
Jammu and Kashmir Bank is willing to offer Islamic banking to customers in the state and would examine the proposal after taking the Reserve Bank on board, its chairman Parvez Ahmad said on Monday. "Well, we have not given a serious thought to it, but there is a lot of demand for Islamic Banking in the state. Few clients who do not want to have the interest on their saving bank accounts, we do not have the mechanism how to take care of that particular component. But, we will examine the proposal and we have to also take RBI on board," Ahmad told reporters in Srinagar.
Ahmad, who was recently elevated as the chairman and chief executive officer of the bank, was interacting with the media for the first time since the assumption of the charge. He said subject to the proper examination of the proposal and the acceptance by the regulator RBI, the bank is "very much willing to offer this type of product line to the customers in J&K".
Asked whether J&K Bank was feeling threatened with the influx of private sector banks in the state, Parvez said so far as the competition is concerned, do not compare apples with oranges. "So far as the JK Bank positioning is concerned, it has 63% share on the asset side, 62% share on the deposit side, out of 862 branches, 745 are in the state, out of 1030 ATMs, 950 in JK state, 90% of the population is dealing with JK Bank, we have branch in every block of the state.
"With these kind of numbers, I do not see what kind of competition we are talking of. We have a monopolistic character, we have dominance, but we also need to be humble and we need to be supported well in order to retain our dominant position because J&K state is central to J&K Bank and its existence and it is the primary source of deriving the key advantages," he said.
"Other banks are only offering products and services, we are more concerned about the development of JK state as a whole," he said.
