Methods of Attracting Financial Resources of Islamic Financial Institutions to Russian National Economics

Abstract

Over the past 50 years, Muslim-dominated countries have been actively developing their own concept of socio-economic development in financial transactions. This concept represents a fundamentally different approach to the organization of a system of economic life, which, by its ethical, legal and economic principles, differs significantly from the conventional principles and values underlying the economies of industrialized countries. One of the institutions of Islamic economic system is Islamic banks, a special form of financial business organization in which services are provided to clients on an interest-free basis and with some other ethical limitations. The article deals with the growth factors of Islamic banking, especially in Russia. Potential areas for expansion of Islamic banking are considered. A syndicated lending scheme has been developed as an effective way to introduce Islamic banking products into the Russian market.