Tagged: Russia

Will Islamic finance flourish in Russia?

Will Islamic finance flourish in Russia?

In 2009 and 2010, one survey found that 97 percent of people in Russia who were mainly Muslim or from an Islamic background were interested in using an Islamic bank. Of that 97 percent, 40 reside in Moscow. Though not formally allowed to be practiced i…

Azerbaijan leads the line

Azerbaijan leads the line

It is possible that the Commonwealth of Independent States will become the next frontier for Islamic finance. At this point, six Muslim republics of the former Soviet Union, Azerbaijan, Kazakhstan, Uzbekistan, Turkmenistan, Kirgizstan and Tajikistan ar…

Russian interest in Sukuk runs ahead of regulators

Russian interest in Sukuk runs ahead of regulators

Gasprombank is building support for Sukuk but Russian legislation is missing. Executives from Gazprombank have been collecting interest in South East Asia. It seems that Alexander Kazakov, director of structured and syndicated finance at the bank, is c…

Market Emerging for Islamic Finance

Market Emerging for Islamic Finance

There is a possibility that the Islamic finance will launch this year in the Tatarstan republic in the form of sukuk.
Gazprombank has been researching and developing Islamic finance tools for several years. The Director of Gazprombank stated that Russi…