Sberbank plans pilot deals under the rules of Islamic banking in autumn 2016 in the Republic of Tatarstan.
"We have to make a commitment to executive several pilot transactions in autumn," the First Deputy Chairman of the Executive Board, Maxim Poletaev, said.
Currently, the working group on Islamic banking under Russia’s Central Bank is involved in discussions on legislative amendments needed for transactions under Islamic banking rules. According to Poletaev, pilot deals may be executed within the limits of the active legislation.
He also said that Sberbank will set up an expert group for exploring the potential of the Islamic banking.
"We’re planning to seriously delve into this area as it is important for the country for diversification of sources of funding," TASS cited him as saying.
