Muhith finds Islamic banking \\\'fraudulent\\\'

Criticising the perception of Islamic banking, Finance Minister AMA Muhith on Sunday termed it 'fraudulent' one set up on 'wrong perception', reports UNB.

Responding to a supplementary question from Habibur Rahman Mollah (Dhaka-5) in parliament, he said, "The system appears to me absolutely fraudulent one."

The Finance Minister, however, admitted that Islamic banking model has become popular around the world and many world-class organisations like that of the International Monetary Fund (IMF) also talks about Islamic banking. "It's very much unfortunate."