Sberbank plans to conduct a pilot transaction under the rules of Islamic banking in the fall of 2016 in Tatarstan. About it as transfers TASS, said the first Deputy Chairman of the Board Maxim Poletaev at the forum “Russia —Islamic world” in Kazan.
“We need to undertake in autumn to make a few pilot transactions,” — said the banker.
The basic principle of lending in accordance with the rules of Islam — prohibition of loans at interest. Therefore, the credit institution directly receive income from the profits of the business projects in which to invest.
The theme of the introduction in Russia of Islamic banking is periodically discussed in the professional community. Some banks and Finance companies have tried to introduce on the Russian market of private financial products that meet Shariah standards.
In August 2014, the Association of Russian banks (ARB) offered to adopt a special Federal law “About Islamic Finance” which would regulate the credit activities of Muslim organizations in the country. In addition, ARB expressed the idea of establishing a Sharia Board at Bank of Russia, which would define the conformity of financial operations of Islamic banks to the religious principles.
Among the Russian banks of the transaction under Sharia law have made Kazan “AK bars”. In January 2014, he drew $ 100 million from investors from the Middle East and the Gulf countries.
