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Development of Islamic finance in Russia: challenges and prospects


Yuriy Danilov, Magomet Yandiev
(about the authors)

Danilov Yuriy Alekseevich – Candidate of Science, Economics, Senior Researcher (Russian Presidential Academy of National Economy and Public Administration under the President of the Russian Federation, Moscow)

Yandiev Magomet Isaevich – Candidate of Science, Economics, Senior Researcher (Russian Presidential Academy of National Economy and Public Administration under the President of the Russian Federation, Moscow)

Published in:
Russian Journal of Entrepreneurship
– Volume 17, Number 2 (January, 2016)



Keywords: islamic finance, Islamic windows, obstacles to the implementation, savings, social and economic effects


Citation:
Yuriy Danilov, Magomet Yandiev (2016). Development of Islamic finance in Russia: challenges and prospects. Russian Journal of Entrepreneurship, 17(2), 207-214. doi: 10.18334/rp.17.2.2209


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Abstract:

The article describes the basic options to overcome the major obstacles to the introduction of Islamic finance in the practice of the Russian financial market. The authors laid out the proposals for selection of optimal variant to introduce the Islamic finance in Russia with marking the stage of formation of the Islamic finance industry, proposed conceptual guidelines for eventual “roadmap” for the implementation of the model of Islamic finance in Russia. They also estimated key social and economic effects.







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