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07.02.2017

GCC VAT a test for Islamic Finance- Fitch


30.01.2017

Goldmoney adds Shariah-compliant methods to boost investment from Islamic markets


31.03.2016

Path Solutions joins CIBAFI, the world renown General Council for Islamic Banks and Financial Institutions


28.03.2016

"Kazakhstan Islamic Finance 2016: a new frontier for Islamic finance" country report


19.02.2016

Azerbaijan looks to new Islamic bank as sector rules progress


15.01.2016

Linar Yakupov received an award for his contribution to the development of Islamic finance industry in Russia


14.12.2015

The 2nd International winter school of Islamic law and economics has started in Kazan


09.12.2015

Russian financial experts are exploring options to launch Islamic Banking


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22.06.2016

Islamic banking will be most relevant to SME sector: Zafar Sareshwala

Interview with director and head of Islamic Corporation for Development's (ICD) India operations.

25.11.2015

Islamic Develop Bank calls for new Islamic microfinance structures

As the Shariah-compliant Islamic finance sector booms in the GCC region, the President of the Islamic Development Bank (IDB) Group, Dr. Ahmad Mohamed Ali, asked experts in the field to develop new Islamic microfinance structures.

14.09.2015

Dubai Silicon Oasis Authority and Thomson Reuters Reveal Key Findings of Digital Islamic Economy Report 2015

Dubai Silicon Oasis Authority (DSOA) and Thomson Reuters, with support from the Dubai Islamic Economy Development Centre (DIEDC) released the 'Digital Islamic Economy Report' for 2015, in collaboration with DinarStandard.

Islamic Banking Claims Russian Market Share

05.04.2010

Business, operated in compliance with Sharia principles is a norm in many developed countries. In his interview, Linar Yakupov, CEO of the IFC “Linova”, shared about his work experience in a credit and financial company, which operates in compliance with Islamic principles. Core activities of the company include investment banking and Islamic financial consulting, which means attracting both Russian and foreign investments to support various projects. The company has partnerships with many leading Islamic financial institutions. Consulting refers to the provision of business consulting services to those financial institutions that plan to launch Islamic products.
Islamic Banking Claims Russian Market Share
Business, operated in compliance with Sharia principles is a norm in many developed countries.
In his interview, Linar Yakupov, CEO of the IFC “Linova”, shared about his work experience in a credit and financial company, which operates in compliance with Islamic principles. Core activities of the company include investment banking and Islamic financial consulting, which means attracting both Russian and foreign investments to support various projects. The company has partnerships with many leading Islamic financial institutions. Consulting refers to the provision of business consulting services to those financial institutions that plan to launch Islamic products.

Compliance with Sharia principles suggests that a borrower is responsible not only to a money lender but also to a depositor, or investor, whose money enables a bank to provide a loan. The expert speaks about a huge undeveloped market, which covers 20 millions Russian Muslims. Their personal savings rate is traditionally high, but their religion forbids usury. Islamic banks can assume this market share, however, because the international experience shows, there is no dramatic outflow of clients from traditional banks. The sphere of influence of the Islamic banks extends to those, who were “outside the market” under their faith, distrust, etc.

The current crisis gave added evidence that banks, operated in compliance with Sharia principles, did not often do worse, but did even better than their Western colleagues. Islamic banking has good prospects in the Russian Federation, as the financial crisis still exists. “The Islamic model can become a good alternative for a traditional model”, concludes Linar Yakupov.

Islamic-Finance.ru based on materials of bankir.ru

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Malaysia's fast-growing Islamic finance sector benefits not only the Muslim world but also non-Muslim countries, said former Prime Minister Tun Abdullah Ahmad Badawi.

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