IN RUSSIAN

Russian laws to be adopted for functioning of Islamic financing institutes

11 May 2011 - 8:53am

Russian legislative system will not be an obstacle for Islamic financing institutes of Russia, the head of Tatarstan Rustam Minnikhanov stated in Dubai, RIA Novosti reports.

“Our bank laws partially don’t correspond to work with Islamic financing, but we have analyzed this issue and it appears the problem can be solved,” Minnikhanov stated at the opening ceremony of Annual Investment Meeting 2011 in Dubai.

According to him, Islamic banks are necessary for Russia.

Islamic financing is a system of dealing with bank affairs according to the religious principles of Islam.

Read also

Nov 25 2014 - 18:32
Today the head of Ingushetia Yunus-bek Yevkurov and the director general of the KARAT International Investment Consulting (Beijing) Corporation Co, Ltd, Wan Li, signed an agreement on economic cooperation.The agreement requires that the company represents the interests of Ingushetia in China in the sphere of searching for trading partners, attracting Chinese investment into the Ingush economy, and promoting the goods and producers of the republic in China. 
Nov 25 2014 - 14:05
The opening of Makhachkala Airport, closed for reconstruction of its runway since September 28, has been postponed due to weather conditions, said Magomedhaji Rajabov, deputy head of the Agency for Transportation and Roads, RIA Dagestan reports.An expert commission will check the runway on November 28 and decide whether it can be opened or not. The airport will open on December 1 regardless of whether the runway is ready or not. The opening in this case may be postponed by 5-7 days.
Nov 25 2014 - 12:58
Russian Energy Minister Alexander Novak, Rosneft Head Igor Sechin and Venezuelan Foreign Minister Raphael Ramirez are attending Russian-Venezuelan talks on oil prices in Vienna today. They will discuss Russia’s proposal to lower oil extraction with OPEC states. Russia offers to reduce oil extraction by 15 million tons simultaneously with reduction of its extraction in OPEC countries by 70 million tons. Raphael Ramirez proposed the same idea during a visit to Russia.

Archive