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

Oct 31 2014 - 09:36
Russian Energy Minister Alexander Novak, his Ukrainian counterpart Yuri Prodan and European Commissioner for Energy Policy Gunther Oettinger reached a gas agreement in Brussels last night. Russian gas supplies to Ukraine, halted on June 16, will be renewed. Ukraine was given a discount of $100, it will pay $378 per thousand cubic meters. Ukraine will buy gas for about $1.5 billion.
Oct 30 2014 - 16:03
 Russia will sell gas to Ukraine at a price of $378 per thousand cubic meters in Q4 2014 and at $365 in Q1 2015. The gas discount will total $100, according to the current contract. The gas price is based on the oil price, Gazeta.ru reports.Ukrainian Prime Minister Arseniy Yatsenyuk had declared the gas agreement earlier today. 
Oct 30 2014 - 15:36
 
Oct 30 2014 - 15:05
The dollar value dropped from 43.2 rubles at the start of trading on the Moscow Exchange to 41.86 rubles at 2.13pm. It reached 43.66 rubles at a certain point. The price of the euro dropped from 55.49 to 53.41 rubles.
Oct 30 2014 - 14:04
Russian Minister for Energy Alexander Novak said at a session of the Cabinet today that a gas deal may be signed today, if Kiev shows the will to do so and if trilateral agreements would be reached the same day, RIA Novosti reports.
Oct 30 2014 - 09:55
Russia, Ukraine and the EU discussed gas problems in Brussels last night. Russian Energy Minister Alexander Novak said that the round will continue on the evening of October 30. In his words, the basic parameters to be included in documents, agreements on prices and a mechanism for restructuring the debt have been established, some gas volumes may be sent in November-December, based on a prepayment system.

Archive