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Islamic banking law to promote investment inflow — Russian lawmaker

The Islamic banking law may go live as early as in August

MOSCOW, July 2. /TASS/. Implementation of the Islamic banking law that can be adopted in July will make it possible to raise $11-14 bln in joint projects with Islamic countries, the head of the financial market committee of the State Duma, the lower house of the Russian legislative assembly, told TASS.

"The potential of raising funds to implement projects [after the approval of the Islamic banking law is $11-14 bln. Many experts give such estimate. We expect at the same time an inflow of investments to different projects from Turkey, from Iran, from Asian countries following the Islamic region; that is, the serious potential is in place," Anatoly Aksakov said.

The Islamic banking law may go live as early as in August because lawmakers have no fundamental disagreements on its content, the lawmaker said. "We expect the approval [of the law] in July, after the second and third readings. It is being finalized now and I can say actually with moderate optimism, giving about 90%, that we will adopt [the law] in July and accordingly it will be in effect since August," Aksakov added.

The State Duma passed the bill on the experiment of introducing Islamic banking in Dagestan, Chechnya, Bashkortostan and Tatarstan in the first reading in December 2022. It anticipates introduction of the experimental regime for partner financing.

US’ new military aid package for Ukraine to be worth $375 mln — agency

According to Reuters, the new package will include patrol boats, additional munitions for high-mobility artillery rocket systems

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Ukrainian forces create concentration camps in Russian border areas — diplomat

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Hezbollah handing out pagers hours before their detonation — agency

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Ukrainian troops attack two settlements in Russia’s Belgorod region, leaving no casualties

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Kiev and EU open joint defense innovation office — Ukrainian Defense Minister

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Russia welcomes normalization of Iran’s relations with Arab countries — Lavrov

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US volunteer Russel Bentley missing in Donetsk killed — RT editor-in-chief

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Maria Zakharova pointed out that the European Union had lost independence

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Hezbollah attacks Israeli military headquarters in Ein-Zeitim

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Physicists from Russia to be banned from Large Hadron Collider from December 1 — Nature

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Attempts made to provoke Hezbollah with aim of US interference in war — Lavrov

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Ten Ukrainian drones destroyed over Russia’s Bryansk Region — governor

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Some 101 Ukrainian drones intercepted in Russian regions, Azov Sea overnight — ministry

Air defenses eliminated UAVs over eight regions, Defense Ministry said

Russia to explain risks of cooperation with NATO to post-Soviet countries — MFA

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Russia's military to restore control of all districts of Kursk Region — Kremlin

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The minister to say that NATO is becoming increasingly interested in the Arctic region

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Russian troops repulse ten Ukraine’s counterattacks near Kremennaya in LPR in one week

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Erdogan says ready to meet with Syria’s Assad, waiting for response from Damascus

We have said that we would like to hold a meeting with Bashar Assad to normalize relations between Turkey and Syria, Erdogan said

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Ukrainians sustain over 300 casualties in Kursk area in past day, Russia says

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Russia will not 'shoot itself in the foot' by halting gas supplies — Lavrov

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Hezbollah confirms death of its commander in airstrike on Beirut

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Emergency services together with representatives of the territory’s administration are working on the spot

Senior Russian lawmaker warns that calls for long-range strikes open way to nuclear war

Vyacheslav Volodin commented on a recent resolution of the European Parliament to allow strikes inside Russia with Western weapons

Russia delivers urgent assistance to Mali — portal

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West is persuading Ukraine to give up claims to 1991 borders — legislator

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