A federal project on Islamic banking is being implemented in Russia. The first product will be a bank card. The Tinkoff press service reported that at the end of 2024 it will be available in all regions of Russia. Financial transactions therein will be carried out in accordance with Sharia rules and based on Islamic ethics.
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Cardholders will receive all necessary financial services, and transfers to residents of Uzbekistan, Tajikistan, Kyrgyzstan and other Muslim countries can be made commission-free, but within certain limits.
An Islamic card cannot be used to pay for products, goods or services in haram areas. It will not work when paying for gambling, tobacco products, alcohol, pawnshop services and other prohibited areas.
Over time, Islamic banking can be expanded to other products in the Tinkoff ecosystem. We are talking about Islamic installment payment plans and investment products. Leasing will be available for legal entities.
In April, Tinkoff participated in an experiment to develop Islamic banking in Russia. So far it is celebrated in four regions: Tatarstan, Bashkiria, Dagestan and Chechnya.
We previously wrote that Tinkoff is looking for developers in Uzbekistan to develop various services.
Author:
Nikolai Tikhonov
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
