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- October 23, 202619°
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- October 23, 202619°
Russia’s central bank approves Islamic finance standard as pilot continues in four regions
The Central Bank of Russia has approved the country’s first participation finance standard. Transaction volumes in the Islamic banking pilot across Bashkortostan, Tatarstan, Chechnya and Dagestan have reached tens of billions of rubles, while standards for new financing instruments are planned to be prepared by September.
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