Islamic Banking System: Present State and Prospects for Development (press-release)

The IET's press-office informs of a new research paper (No. 122) entitled "Islamic Banking System: Present State and Prospects for Development" (M.: IET, 2009. - 88 p.) by P. Trunin, M. Kamenskikh, M. Muftiahetdinova was published under the series "Research Papers".

The aim of this publication is to describe main principles of functioning of islamic banking system as well as the consequences for appearence of islamic financial institutions on traditional financial markets. In near future some of these institutions can appear in Russia. That is why Russian banks, nonfinancial enterprises, government bodies and popualtion at large should be ready to this development of events and understand the consequences of this tendency for the country's economy.

The publication of the present paper was sponsored with the grant from the United States Agency for International Development (USAID).