Russian legislators approve Islamic banking pilot
Two-year programme may attract foreign capital or appease restive minorities
The Russian parliament approved legislation allowing Islamic banking in four regions for a pilot period of two years, starting September 1.
The State Duma, the lower house of the parliament, passed a law it has been considering since last year, according to media reports.
The law establishes an “experimental legal regime” in four regions: Chechnya, Dagestan, Tatarstan and Bashkortostan. The government and the Bank of Russia can agree to extend the pilot to other regions.
“Participants in the
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
More on Governance
Maltese prosecutor charges central bank governor with fraud
Scicluna previously denied all wrongdoing while serving as finance minister
Bundesbank’s Nagel: central bank business models are changing
Panetta says wholesale CBDC likely to launch sooner than retail; Das gives update on digital rupee
Book notes: Virtuous bankers: a day in the life of the 18th-century Bank of England, by Anne L Murphy
A bottom-up account of how clerks managed operations and enhanced the BoE’s reputation
Trump advisers aim to curb Fed independence, report says
WSJ says leaked document discusses sacking Powell and giving Trump vote on policy
Thai prime minister tells lenders to cut interest rates
Move comes amid continued tensions between government and central bank
French president calls for expanded ECB mandate
“We cannot have a monetary policy solely focused on inflation,” Macron says
Governance Benchmarks 2024 – model banks analysis
Additional breakdowns of the data reveal details of central bank powers, staffing and more
Nigerian governor declares fixed exchange rates are over
Cardoso says central bank plans to move to an inflation-targeting regime
Most read
- Central banks prepare for the rise of AI
- Central bank of the year: Central Bank of Brazil
- Bundesbank’s Nagel: central bank business models are changing