Alternative Finance in a Time of Crisis: How Russia is Looking to Introduce Islamic Banking
... market in Russia just five years after its legalization. As of now, several Islamic banks have voiced their intention to open branches in Russia. They include Bahrain’s Al Baraka, Sudan’s Al Shamal, UAE’s Al Hilal as well as leading Malaysian banks. Islamic finance may appeal to Muslims and others during times of crisis, since its underlying principle is to invest in tangible products and not financial instruments based on speculation. The development of Islamic finance in Russia is hampered by the absence ...
10.08.2015
