Moscow holds first night rehearsal of Victory Day ParadeMilitary & Defense April 28, 1:18
Russia’s Kvyat expects full-house attendance at 2017 F1 Russia GP in SochiSport April 28, 1:14
Only OPCW investigation can bring up truth on Khan Sheykhun chemical attack — MoscowWorld April 27, 23:37
Kvyat to race at home F1 GP in Sochi with new helmet design depicting him riding torpedoSport April 27, 21:43
Maria Sharapova gets into quarterfinal of tournament in StuttgartSport April 27, 21:16
Russia, Japan to hold bilateral year of culture in 2018World April 27, 20:49
Angela Merkel’s visit to Moscow – pragmatism above all elseRussian Politics & Diplomacy April 27, 19:18
Japanese businessmen and officials to visit South Kuril Islands in summerWorld April 27, 18:46
Putin, Abe call for quickest restart of talks on Korean settlementRussian Politics & Diplomacy April 27, 18:32
GROZNYY, January 28. /TASS/. An agreement has been reached in Groznyy (the capital of Russia's Chechen Republic) to open an Islamic bank in the republic, Chechen leader Ramzan Kadyrov said on Thursday.
"Executives of Mazkorp company Hilal Suhail Hilal Rashid Al Mazrouei and Wael Saab came from the UAE. We discussed the task of opening the Islamic bank in Groznyy. The issue was worked out preliminarily. We agreed to start implementing the project at the meeting," Kadyrov wrote on his page in Instagram.
Opening of the bank is of enormous value for the republic, Kadyrov said. Large properties are under development in Chechnya with participation of capital from the UAE. "Absence of Islamic banks is the only obstacle," the leader of Chechnya said.
The decision was also made at the meeting with the management of Mazkorp on shareholding participation in development of Magnus-Groznyy pharmaceutical cluster to start next year and on investment into construction of Ahmat-Tower multifunctional high-rise property in the capital of Chechnya.
Islamic banking implies banking operations in accordance with religious norms of Islam. In particular, interest on loans and financial speculations are banned.