Четверг, 5 марта 2015 г.
The changes are planned primarily to the law “On Banks and Banking Activity”, where a list of operations and transactions that are entitled to carry out the banks. The law prohibits banks from engaging in the production and trading activities except for the cases when it is necessary for their own needs (for example, authorized the sale of property sold in foreclosure on th e collateral, etc.). This eliminates the work of classical Islamic banks, which conclude with the client an agreement on cooperation and become partners for various types of transactions.
For example, the bank provides funding for the development of its business, and she gives him the agreed part of the profits within a specified period. In this case, the bank’s profit is not fixed, as in the classic banking. In the retail lending operations is replaced by buying and selling: the bank sells the citizen the right product (car or apartment) in installments, but at a price that is slightly higher than the market. Deposits in an Islamic bank also does not exist. Instead, the client is invited to give their money to the bank to manage and share the income from the investment.
Earlier, the State Duma introduced a bill is not about Islamic banking. According to “Izvestia” Dmitry Savelyev, according to various estimates, the global volume of Islamic banking assets of $ 1.2 trillion. Islamic banks are open in more than 40 countries around the world.
– In Russia traditionally have shown interest in Islamic banking in Tatarstan, with the active assistance of colleagues from Malaysia. So the prospects are quite real, – said the deputy.
In August 2014 the Association of Russian Banks sent a letter to the Central Bank, describing the need to amend the legislation to Russia could work in Islamic banks. Central Bank is currently exploring the possibility of such changes and, as reported by “News” deputy chairman of the Bank of Russia Alexander Torshin, optimistic about the idea:
– The arrival of Russian Islamic banks can benefit from our banking system as the following Bank religious principles naturally increases its credibility on the part of the faithful. In Russia, more than 20 million Muslims, and is a significant factor in the development of the banking system in this direction – said Torshin. – Generally, in international financial centers such as Frankfurt or London, there is Islamic banking, and Russia did not abandon the idea to create in Moscow an international financial center, and for us the arrival of Islamic banks would be quite logical. Therefore, we the idea of Islamic banking does not reject, as long as it was for the benefit, under the law, contributed to the development of the banking system, increase confidence in the banks.
About develop legislation on introduction of Islamic principles of financing, reported earlier, President Association of Regional Banks of Russia Anatoly Aksakov. According to him, the changes be made to the Law “On Investment Funds».
The Executive Secretary and member of the Coordinating Council of the Russian Association of experts on Islamic finance Madina Kalimullina pointed out that there are conceptually different approaches to change the law. There is a proposal to establish a legal framework for the work of special financial institutions that perform the function of an Islamic bank, as a matter of fact an Islamic bank – a financial and investment company. The second approach – mandatory provision of Islamic banking license of the Central Bank. To do this, the law “On Banks and Banking Activity” need to be a section that will govern their work. A third approach involves the creation of banks “Islamic window”. In this case you will need to register in the law of the provisions of a special branch of the bank, which is not covered by separate banking laws.
Kalimullina added that of his investment interest in Russia now say in the UAE, Kuwait, Bahrain and in other countries where there is a great investment potential.
– But these countries need some political guarantees safety of investments. There are a great number of interesting projects that could be of interest to investors from the Gulf countries, but not the prerequisites for attracting investment. The presence in the Russian legislation on Islamic banking will be one more guarantee that the country is open to investment and financial cooperation, – the expert believes. – In addition, the absence of the necessary legal framework does not allow to realize, for example, such a financing scheme, as to issue Islamic bonds – Sukuk, which are the target and provide a non-guaranteed income from the profits funded activities.
Analyst National Rating Agency Egor Ivanov said that the control of Islamic banks in the countries where they operate alongside the traditional organizations usually carries a specialized unit of the central bank of the State. Also, according to experts, a number of classic banks are so-called Islamic windows, allowing customers to receive banking services in accordance with Shariah.
The head of the analytical department of the bank BKF Maxim Osadchiy noted that the introduction of Islamic banking will require substantial changes not only the bank, but, for example, and tax laws. After all, interest income on deposits up to a certain rate of interest is not taxed, and on Islamic finanansovym instruments similar deposits, such benefits are not provided.
In the autumn of 2014 its intention to provide services according to Muslim traditions in the Russian financial declared International Bank of Azerbaijan (IBA). The Management Board decided to open in its Russian subsidiary bank of Islamic banking, but the details and specific plans are unknown. In IBA difficult to respond promptly to a request “Izvestia».
However, in Russia there are structures that provide Islamic financial services. C 2011 work at least two of the company – “LyaRiba Finance” (Makhachkala) and “Amal” (Kazan). They have not licensed the Central Bank, respectively, are not subject to the ban on trading activities. They offer Islamic financial products do not fall under the definition of classical banking services such as credit and contribution, which may provide only banks.
According to the director of the financial house “Amal” Rashid Nizameeva, the demand for Islamic banking services also exhibit representatives of other religions and atheists. General Director of “LyaRiba Finance” Murad Aliskerov in a conversation with “Izvestia” indicated that honors Islamic banks is the lack of insurance, fees, fines, and other charges. In addition, debt collectors are not sold. When investing in a company clients’ LyaRiba Finance “their funds in the contract with him prescribed proportion distribution of future gains or losses: 50:50 or 60:40 depending on the amount and term of the deposit. Bank funds are invested only in business, responsible Sharia says Aliskerov. With regard to credit products, for example, the company buys 100 thousand. Rubles goods and sells it for 120 thousand. Rubles in installments for a year, every month the client brings to 10 thousand. Rubles.
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