© Photo: Maria Novoselova/ Vestnik Kavkaza
An expert council on Islamic banking has been created by the Muftiate of Dagestan. It will deal with issues of Islamic banking and doing business in accordance with Sharia law.
The Muftiate of Dagestan has decided to create an expert council that will deal with issues of Islamic banking and doing business in accordance with the principles of Sharia. This will facilitate the development of the financial services sector that comply with religious regulations and the requirements of Islam.
The expert council formed by the Muftiate of Dagestan will be engaged in the consideration and analysis of various aspects of banking activities that require compliance with the principles of Sharia. One of the key goals of the council is to develop recommendations and guidelines for banks and financial organizations wishing to follow Islamic financial principles.
