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GCC VAT a test for Islamic Finance- Fitch


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


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


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


Azerbaijan looks to new Islamic bank as sector rules progress


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


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


Russian financial experts are exploring options to launch Islamic Banking


Recent Comments


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.


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.


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.

Bahrain suggests to Russia to open an Islamic bank


The issue of establishing an Islamic bank in Russia jointly with several Arab countries will be discussed at the Russian-Bahraini business council, which is scheduled to take place on October 21 in Sochi under the chairmanship of Vladimir Dmitriev (the president of Vnesheconombank) and Ahmed Al-Saati (Ambassador of Bahrain to the Russian Federation).
Bahrain suggests to Russia to open an Islamic bank
“In order to develop our banking cooperation, it is necessary to establish an Islamic bank, jointly Russian with some other Arab countries or Bahrain, this is becoming a very relevant task nowadays,” Saati told Rossiya-24 television channel in an interview.

«As for investment, our state, refers to State investment holding Bahrain, participates with a share of 20% in one of the major investment projects in the Russian Federation,» said al-Saati.

«As for Bahrain, we call on, of course, and Russians to work in the Kingdom of Bahrain, because we have the most favorable climate for foreign investment: no taxes for foreign investments and foreign partners have the right to own property right at all without the participation of the so-called local agent,» he continued.

I think that Russian business, if you come to Bahrain, Bahrain could serve as a very good starting base for the entry of Russian business in neighboring countries — the Arab Gulf States», — concluded the Ambassador of Bahrain to the Russian Federation.

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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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