LDPR proposes to allow in Russia the deposits of the Islamic banking principles

LDPR proposes to allow in Russia the deposits of the Islamic banking principles

The Deputy from party of LDPR Dmitry Saveliev proposed to the state Duma a bill that allows you to place funds in Bank deposits in accordance with Shariah.

MOSCOW, 3 Dec. The Deputy of the state Duma from LDPR Dmitry Saveliev introduced before the house a bill to impose a non-interest bearing Bank deposits in accordance with the norms of Islamic Finance, the newspaper “Izvestia”.

A little earlier, Savelyev made in the lower house the bill eliminates legislative barriers to perform leasing transactions in accordance with the rules of Islamic Finance.

“Now a significant portion of the population because of religious and moral self-restraint is not able to participate in the formation of the resource base of domestic banks. In terms of external financial instability requires the adoption of standards and instruments savings cases based on the principles narodovskogo financing”, — quotes the words of the Deputy of the newspaper.

The bill is aimed at the development in Russia of Islamic banking, based on the refusal to provide money at interest, that is usury. Under current law the remuneration is a prerequisite for the placement of funds on Bank Deposit.

“Submitted to the Duma a draft law — the basis for further movement in this direction. The following steps is a legislative determination of the possibility of attracting and placing investment deposits (Mudaraba), the issuance of investment bonds and other forms of partnership participation in projects funded by banks and other financial market participants”, — said Saveliev.