Russian partnership banking integration in Islamic financial system

Abstract

© 2018 Taylor & Francis Group, London. The article studies the perspectives of partnership banking and finance development in Russia, and challenges of Russian banking system integration in current Islamic financial system. The paper covers the results of marketing research about perception of Islamic banking in the Republic of Tatarstan, as one of potential pilot regions for partnership banking introduction in Russia. The article briefly describes existing experience of Russian financial institutions acting on Sharia principles. Furthermore, the authors analyze possible application of Islamic financial products within current legal environment and provide recommendations related to further development of the industry.