IslamicFinance.de

Although regulators lag behind in customizing laws for the industry, russian borrowers are pitching plans to sell the nation's first Islamic bonds.
Executives from Gazprombank are now in Southeast Asia to look for support for issuance by as many as five companies. The statement was given by Alexander Kazakov, director of structured and syndicated finance at the bank.

There is a possibility that the Islamic finance will launch this year in the Tatarstan republic in the form of sukuk.
Gazprombank has been researching and developing Islamic finance tools for several years. The Director of Gazprombank stated that Russia is ready for sukuk.