Development Of Partner Financing In The Chechen Republic And Dagestan

For many years, scientists in Russia have not stopped talking about legislative changes in favor of partner funding.Back in 2015, the State Duma of the Russian Federation was considering a law that would remove obstacles to the full implementation of the idea of Islamic banking.At the center of this proposal was the need to attract foreign investment from Muslim countries.Businessmen talked about the problem of double taxation of Islamic finance companies, and therefore they wanted a federal law that would eliminate high pricing and a number of other problems in the Islamic finance industry in Russia.Only 7 years later, a law on partnership financing activities and related laws were prepared.According to the law, new participants in the experimental legal regime should be created, headed by the Central Bank of the Russian Federation and with all the ensuing features.Testing of this law is expected on the basis of the Chechen Republic, Dagestan, Tatarstan and Bashkortostan.At the same time, organizations operating in the bosom of Islamic law are already functioning in the territories of these regions of Russia.In this regard, it is necessary to analyze the current state and prospects for the development of partner financing in order to identify growth reserves for this segment of the financial sector.