{"id":96128,"date":"2023-08-31T19:03:53","date_gmt":"2023-08-31T16:03:53","guid":{"rendered":"https:\/\/shiawaves.com\/english\/?p=96128"},"modified":"2023-08-31T19:03:57","modified_gmt":"2023-08-31T16:03:57","slug":"russia-introduces-islamic-banking-in-pilot-program","status":"publish","type":"post","link":"https:\/\/shiawaves.com\/english\/uncategorized\/96128-russia-introduces-islamic-banking-in-pilot-program\/","title":{"rendered":"Russia Introduces Islamic Banking in Pilot Program"},"content":{"rendered":"\n<p>Aljazeera reported this week that Russia is set to launch its first Islamic banking system as part of a two-year pilot program starting September 1.<\/p>\n\n\n\n<p>With an estimated Muslim population of up to 25 million, the move endorses Islamic financial institutions for the first time, focusing on four Muslim-majority republics\u2014Tatarstan, Bashkortostan, Chechnya, and Dagestan.<\/p>\n\n\n\n<p>If successful, the program may expand across the country, tapping into the 40 percent annual growth rate of the global Islamic banking sector. The decision is seen as part of Russia&#8217;s strategy to diversify its economy amid Western sanctions and foster East-facing economic relations.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"600\" height=\"400\" src=\"https:\/\/shiawaves.com\/english\/wp-content\/uploads\/sites\/4\/2023\/08\/90815_141.jpg\" alt=\"\" class=\"wp-image-96129\" srcset=\"https:\/\/shiawaves.com\/english\/wp-content\/uploads\/sites\/4\/2023\/08\/90815_141.jpg 600w, https:\/\/shiawaves.com\/english\/wp-content\/uploads\/sites\/4\/2023\/08\/90815_141-300x200.jpg 300w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Aljazeera reported this week that Russia is set to launch its first Islamic banking system as part of a two-year pilot program starting September 1. With an estimated Muslim population of up to 25 million, the move endorses Islamic financial institutions for the first time, focusing on four Muslim-majority republics\u2014Tatarstan, Bashkortostan, Chechnya, and Dagestan. If &hellip;<\/p>\n","protected":false},"author":5,"featured_media":96129,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_108372464460192_245495985553329":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[1],"tags":[],"class_list":["post-96128","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Russia Introduces Islamic Banking in Pilot Program - Shia Waves<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/shiawaves.com\/english\/uncategorized\/96128-russia-introduces-islamic-banking-in-pilot-program\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Russia Introduces Islamic Banking in Pilot Program - Shia Waves\" \/>\n<meta property=\"og:description\" content=\"Aljazeera reported this week that Russia is set to launch its first Islamic banking system as part of a two-year pilot program starting September 1. With an estimated Muslim population of up to 25 million, the move endorses Islamic financial institutions for the first time, focusing on four Muslim-majority republics\u2014Tatarstan, Bashkortostan, Chechnya, and Dagestan. 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