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As sanctions affect economy Russia...

By Special Correspondent New Delhi: As the country...

As sanctions affect economy Russia mulls of allowing Islamic banking

By Special Correspondent New Delhi: As the country struggles to comply with sanctions put in place by the US and its NATO allies over the ongoing conflict in Ukraine, Russian authorities are considering licencing new non-credit financial enterprises that specialise in Islamic banking. It's possible that the Central Bank will act as a regulator. Islamic banking is a growing industry that might help state-run banks damaged by Western sanctions attracts international investors from Muslim-majority countries and serves domestic clientele. A new law to regulate Islamic banking is now being prepared in...

As sanctions affect...

By Special Correspondent New Delhi: As the country struggles to comply with sanctions put in place by the US and its NATO allies over the...
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