Peculiarities of the Islamic Financial Sector in Russia at the Present Stage and the Perspectives for its Development

Abstract

A financial sector plays an important role in the economy of each country. Russia is not an exception in the sense that after political sanctions were imposed against our country the issue of improving an investment climate in the country has become particularly relevant. To this end, Islamic finance can serve as a source of an internal financial reserve that encourages us to establish relations with the countries of the Persian Gulf and, at the same time, stimulate the lagging economic sectors.