The “DNR” leader Pushilin promises to bring Islamic banking to the “republic”. He stated this during the so-called “international investment forum” in occupied Donetsk.
According to him, the authorities agreed with the International Association of Islamic Business (IAIB), “the use of Islamic banking is considering” one of the areas of joint activity.
“We consider the use of Islamic banking opportunities and opening of a bank to finance the environmental, scientific and industrial sectors of the “DNR” one of the promising financial tools for developing the “republic’s” economy”, – the “DNR” leader stated.
Pushilin stated earlier that for the development of economy of the occupied Donbass, “it is necessary to use international payments mechanisms that would bypass the Western sanctions policy”.
Reference. Islamic banking is banking activities consistent with the Shariah tenets. Sharia prohibits the receipt of a fixed percentage or interest for a loan. Investments in enterprises that provide goods or services that are contrary to the Islamic principles (pork or alcohol) are “sinful” and “prohibited”.