Sber to develop Islamic banking in Moscow

Maria Novoselova / Vestnik Kavkaza

Russia begins an experiment on the introduction of Islamic banking today, and Sberbank plans to take an active part in it.

"Of course, we plan to participate in the experiment and open new flagship partner financing offices. First of all, we are considering regions with a high proportion of the Muslim population, and these are: the Republic of Tatarstan, the Republic of Bashkortostan, the Chechen Republic, the Republic of Dagestan and the republics of the North Caucasus. We will also have a special focus to Moscow",

Sberbank said.

The first office of this kind operates in Kazan. The bank said that various services were available to customers, for example, Halal investments, opening Aman accounts, and more, RIA Novosti reports.

"We plan to expand the range of our services, first of all, one of the most popular products - Islamic mortgage and lending",

Sberbank said.

Let us remind you that the experiment implies that within two years, Islamic (partner) financing instruments will be introduced and developed in four Russian regions.

© Photo :Maria Novoselova / Vestnik Kavkaza