Islamic banking seems to be an unfamiliar concept in Indian economy. Besides having a huge potential, Islamic finance is considered to be infeasible and impractical in Indian conventional system of banking. The search for alternatives to conventional banking in the aftermath of the global financial crisis trained the spotlights on Islamic banking in many parts of the world. Today that Islamic banking has unfortunately been misunderstood in India as a religious charitable venture restricted to the country’s Muslim community. Despite its striking growth in other parts of world such as the Middle East, South East Asia (which chiefly include Malaysia and Indonesia) and Europe, it is yet to be positioned as a realistic alternative financial system and not a religious one. In this paper, an attempt is made to understand the underlying concept of Islamic banking and finance and erode some of the major misconceptions in the same context.

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For achieving excellence it is important for organizations to value their people. Valuing, the people in workforce means pledging to their development, engagement, satisfaction, and well-being. It is necessary for organizations to link the corporate strategy with HR strategy for living their core values. Implementing best HR practices incorporates offering more flexible, high-performance work practices that are compatible with diverse workforce and their personal needs. Organizations can excel with talented and skilled workforce and by creating a good relationship with them. The purpose of the paper is to provide an understanding to the managers for developing such HR practices that can be helpful in sustainable development. Secondary objective is to analyze organization’s success by creating value for people in the organization. Effective management of people in the organization is utmost important for achieving excellence. By implementing best practices in managing men the organizations can achieve sustainable excellence. The research is theorized and based on secondary data; it could have been more valid if based on primary data. This paper focuses on the value of workforce in the organization. It can help managers and other professionals for implementing such HR practices which can help organization in achieving business excellence. The paper includes practical examples of organizations following different HR strategies and also includes literature review about business excellence models and practices, which can contribute in HRM research.