KAZAN, May 15. /TASS/. Many non-Muslim citizens use partnership financing (aka Islamic banking), considering it to be a better option for them, Anatoly Kozlachkov, President of the Association of Russian Banks, told TASS in an interview at the Russia-Islamic World Forum.
"We found out that, indeed, it is true that not only Muslims are interested in Islamic banking and partnership financing in general. It turned out that this form is a good option for anyone who is not satisfied with the financial model offered by modern financial institutions in our country for any reason. And it turned out that a huge number of non-Muslims use these products. They are interested in it, it seems to suit them better," Kozlachkov said.
He linked this to the fact that Islamic banking promotes itself as a more equitable financial model.
"Here, different scholars and practitioners have, so to speak, different opinions. But the simple proclamation that fairness is the main principle is already the crucial component that has tickled the minds of both businessmen and consumers," he said.
The XVI International Economic Forum "Russia - the Islamic World: KazanForum" is taking place from May 13 to May 18 in Kazan. The main theme of the forum in 2025 is Digitalization: A New Reality and Additional Opportunities for Expanding Cooperation.
Representatives of more than 100 countries have confirmed their participation in the forum.