According to the ministry’s estimates, the size of the Islamic banking market in the country may reach one trillion rubles. This was stated by the Deputy Minister of Finance of Russia Ivan Chebeskov. TASS.
The Deputy Minister announced that the experiment of introducing Islamic finance in the Russian Federation will continue and will become one of the elements of the financial market development strategy until 2030.
Currently, the Central Bank has 23 registered entities operating in accordance with the principles of Islamic finance. In recent months, more than 15 new companies have registered. According to Chebeskov, there are more than 50 potential participants in this market, which shows that the business community is interested in this model.
The Islamic banking experience started in Russia on September 1, 2023 and calculated The characteristics of this type of financing are the absence of interest income, the prohibition of excessive risk and investments in certain industries.
Previously at the Central Bank contributed Changes in the Islamic banking experiment.
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Source: Gazeta
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