On September 1 of this year, the introduction of Islamic finance practices began in many regions of Russia, including Dagestan, Chechnya, Bashkortostan and Tatarstan, as part of a two-year experiment.
President of Tatarstan Rustam Minnikhanov emphasized the active participation of the republic in the implementation of this project. In less than two months, two financial institutions of Tatarstan, Ak Bars Bank and Ak Bars Capital, signed up as participants in the experiment. Two more applications are currently being evaluated. In addition, foreign partners have also shown interest in the project, including the World Business Bank from Iran, which plans to participate in the experiment.
Source: Ferra
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