Soon .. Islamic banking services in Russia

May 21, 2016 7:46
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"Fneish Aconom bank intends to" the Russian bank to conclude an agreement with the Islamic Development Bank by the end of May / May of this on the provision of Islamic banking services in Russia.

At a news conference on the development of Islamic banking in Russia, Sergei Gurkov, President of the Russian bank, said Friday, May 20 / May: "on cooperation with the Islamic Development Bank, plan to sign an agreement this month, will help us with the parliament, the Russian Central Bank, the Bank of Sberbank to establish a new platform for cooperation. "

He added: "It is clear that there are billions of dollars, but one can not be determined precisely," in reference to the size of the Islamic banking market in Russia.

This press conference came on the sidelines of the Kazan international economic summit eighth between Russia and the countries of the Organization of Islamic Cooperation, held in the city of Kazan, the capital of the Russian republic of Tatarstan.

Prior to that, Maxim Bolitaev announced, First Deputy Chairman of the Board of Directors, "Sberbank", the largest bank in Russia, that the bank plans to begin providing Islamic banking services in the autumn in the Russian republic of Tatarstan, noting the importance of the development of the banking business in Russia.

And it works in Moscow recently to activate the principles of Islamic banking in Russia, where Islamic finance is one of the fastest growing sectors in the world. This is a golden opportunity for Islamic banking sector for the spread in the Russian market with a population of about 143 million people, of whom 20% Muslim.

Islamic banks are experiencing faster growth than traditional banks, where Muslims around the world invested $ 1.8 trillion a year in the banking sector.

Said Abdullah Saleh, Undersecretary of the Ministry of Economy of the United Arab Emirates, on the sidelines of the Kazan summit: "The Islamic economy is growing steadily, and Islamic banks are growing faster than traditional banks pace, and this is important in light of the growing number of Muslims in the world."

Experiencing the city of Kazan "Russia - the Islamic world," the annual summit with the participation of 1,500 representatives of 35 countries, including the United Arab Emirates, Bahrain, Qatar, and Kuwait.

The Organization of the Islamic Conference, which was founded in 1969 and based in the city of Jeddah, which turned its name later to the Organization of Islamic Cooperation, the largest Islamic organization, and its membership includes 57 Islamic state is a population of about 20% of the world's population, has 70% of the energy sources and about 40% of the raw materials.

Source: agencies