Expert discussions on Islamic banking windows were held in Moscow

During last six months, the Government of the Republic of Tatarstan and the Malaysian-Russian consortium comprising UNIRAZAK, IBFIM and IBFD Fund have been working up on the possibility of preparing the feasibility study on launching Islamic banks or Islamic banking windows on the territory of the Republic of Tatarstan as a pilot region for the introduction of Islamic banking and finance in the Russian Federation. The Feasibility study includes main principles and philosophies of Islamic finance, strategies and approaches of Islamic banking and takaful implementation, market study on the potential Islamic finance consumers, considerations and prerequisite of successful implementation.