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18-Jul-2017 12:29

Given the lack of eagerness from the federal authorities to study this issue, we should not expect it for another two or three years," said Oleg Ivanov, vice-president of the Regional Banks Association of Russia.

Ivanov's association has tried without success to include Islamic finance into Russia's strategy for developing its banking system to 2015, which was adopted by the government two months ago."The government and the Central Bank did not support us," Ivanov told AFP.

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Instead, buying the bonds secures partial ownership in a concrete asset like land or a building, and investors are guaranteed a part of the profits generated by this asset.Top Offers is unique because what we value most in our partners is their genuine and personable qualities.Top Offers' affiliates always receive their payments promptly, and we deal with advertisers in accordance with a uniquely developed thorough vetting process.The first sukuk to be issued in Tatarstan's capital Kazan today, 20 June, will be going toward financing a major business centre in the city whose construction will cost USD200 million."Sukuk are guaranteed by the Tatarstan government, the operator will be based in Luxembourg, and we know that the international market is ready to buy," Yakupov said.



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