WORLD ISLAMIC BANKING: GROWTH AND CHALLENGES AHEAD
Abstract
The object of the article is to give an overview on Islamic banks growth experience across the world from its initial stages till current situation with issues and challenges ahead. More specifically, the article focuses on Islamic banks in Russia, considering the fact that the country with over 20 million Muslims has only one bank (Badr-Forte) which offers Islamic financial services and a few institutions which provide halal investments in recent years, including Ak-Bars Bank in Tatarstan (non-Islamic Russian bank). But despite signs of growth, the country’s pool of officially registered Islamic financial institutions remains limited to two organizations in Tatarstan and two in the republic of Dagestan in the North Caucasus. It is due to the Russian regulation system which is poorly suited for Islamic banks.
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Review
For citations:
Mahmud A.S. WORLD ISLAMIC BANKING: GROWTH AND CHALLENGES AHEAD. Review of Business and Economics Studies. 2015;3(3):49-56. (In Russ.)
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