RUSSIA ANNOUNCED THE LAUNCH OF
ISLAMIC BANKING FROM SEPTEMBER 1
Moscow: Islamic
banking will start in Russia from September 1, which has sent a wave of joy to
the Muslim community and they have thanked President Vladimir Putin.
According to the World News
Agency, Russia, a country with a population of 25 million Muslims, has
announced the launch of Islamic banking from September 1, which has been
greatly appreciated by the Muslim community.
It should be remembered that
President Vladimir Putin signed the Islamic Banking Law on August 4.
Some Islamic financial institutions
were already operating in Russia, but now for the first time, Islamic banking
has been launched at the official level.
Initially, Islamic banking will
be introduced in the Muslim-majority regions of Tatarstan, Bashkortostan,
Chechnya and Dagestan, and if the program proves successful, it will then be
introduced across the country.
The Muslim population has ben
demanding Islamic banking g for a long time, but due e to the Ukraine war, the
pressure of f Western countries on Russia's economic sector also forced
President t Putin to start Islamic banking.
