Business, Management and Accounting
5 years ago

Russia Embracing Islamic Finance to Diversify Investment Sources and Opportunities

Islam in the modern world
Islamic Finance in Russia: Between Past and Future
K. D. Sidorenko

Paper Summary

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Islamic finance has been explored in Russia since the 1990s, especially after the global financial crisis in 2008. The country has been looking into alternative ways to attract investments, including Islamic finance. Over the past 25 years, Russia has gained some experience in this field. The article reviews the history of Islamic finance in Russia, discussing its development in banking, insurance, and the capital market. The current state of Islamic finance in Russia is also analyzed, highlighting the opportunities it can bring to the country.