Sberbank named the conditions for the development of Islamic banking

Today, banks and the government face the task of building an industry that will serve the interests of the country, will be attractive to investors and will allow exporting the Russian model of Islamic finance to the international market, said Behnam Gurban-Zadeh, Managing Director and head of Sberbank's Center for Partner Financing and Special Projects.

According to him, today the Islamic markets are most open to Russian banks — Sberbank is actively working with friendly countries, attracting investments to Russia.

At the same time, according to the expert, Islamic finance in the Russian Federation is developing: legislation has already been adopted that allows for the active use of appropriate tools and services. Moreover, a unique model is being built in Russia, in which Islamic finance is integrated into the Romano-German legal environment, added Behnam Gurban-Zadeh.

"The main focus in building an Islamic ecosystem of banking products is on people. These are human-centered models designed to satisfy a person's needs and give them access to an ecosystem where they will feel comfortable in terms of not only financial security, but also food security, health and education security. This is how the ecosystem is built," said a representative of the bank during a press conference that took place after the BEAC session at the Russia—Islamic World: KazanForum forum.