Demand for Sharia-compliant financial products is growing, according to Russia’s largest lender, Sber. Russia is seeking to expand a pilot Islamic banking program as demand for Sharia-compliant financial products continues to grow, according to the country’s largest lender, Sber. Islamic banking, also known as partner financing, follows Sharia principles that prohibit interest-based lending and speculative transactions. Instead, it relies on mechanisms such as leasing, installment sales, profit-

Tag-uri: Islam