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World Islamic Banking: Growth And Challenges Ahead

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  • A. Mahmud S.

    (Financial University)

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. В данной статье рассматривается опыт роста исламского банкинга в мире, а также проблемы и барьеры, с которыми он сталкивался. В основном статья сфокусирована на исламском банкингев России, где мусульманская община насчитывает более 20 миллионов человек и есть только один банк ("Бадр-Форте"), который с недавних пор предоставляет исламские финансовые услуги, а также несколько институтов по поддержке халяльных инвестиций, включая банк "АК Барс" в Татарстане (не исламский банк). Несмотря на рост, исламские институты ограничены только двумя организациями, которые находятся в Татарстане и Дагестане на Северном Кавказе. Это обусловлено плохой системой российского регулирования, в которой исламский банкинг плохо приживается.

Suggested Citation

  • A. Mahmud S., 2015. "World Islamic Banking: Growth And Challenges Ahead," Review of Business and Economics Studies // Review of Business and Economics Studies, Финансовый Университет // Financial University, vol. 3(3), pages 49-56.
    • Handle: RePEc:scn:00rbes:y:2015:i:3:p:49-56
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