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ISLAMIC BANKING MAY APPEAR IN RUSSIA

According to the head of the State Duma Committee on the Financial Market Anatoly Aksakov, the relevant draft law has already been prepared. The need for changes is due to a number of reasons. Firstly, the rapprochement with Islamic countries in terms of economic activity. Secondly, the specifics of Islamic banking (financial activity based on the principles of Sharia) does not allow to enter the financial instruments inherent in this system into the current Russian legislation....

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