Tartarstan To Create Autonomous Structure For Islamic Banking

Kazan is a city is southwest Russia, the capital of the Republic of Tartarstan - a semi-autonomous region, that will soon launch an autonomous structure for Islamic banking. This will most definitely add much diversification to the financial products currently available. Many of the largest financial institutions in the Russian Federation are interested in exploring the potential of this new frontier. Under the guidance of the Bank of Russia this development may attract projects and investment that otherwise might not have been captured.