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Dagestan to develop Islamic banking

Makhachkala, August 11, 2020

Dagestan Republic plans to develop Islamic finance, Islam.ru website reports. The initiative belongs to the Corporation for the Development of Dagestan joint with the Agency for Entrepreneurship and Investments of the republic.

According to the head of the Corporation, Bilal Kurbanov, today the business community of Dagestan is interested in this sphere. “However, the participation and lending of businesses in this direction is still limited. Thus we intend to deal with these issues in the near future”, Bilal Kurbanov said.

The republican experts have already studied the experience of Tatarstan and Chechnya, and on their basis have already developed its own model for the development of Islamic banking.

 

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