title: Investment technologies оf Islamic banks and prospects for the development of an interest-free banking sector in Russia
metadata.name: dc.contributor.author
metadata.value: Redkin, Oleg I.
metadata.lang: -
metadata.name: dc.contributor.author
metadata.value: Rudokvas, Anton D.
metadata.lang: -
metadata.name: dc.contributor.author
metadata.value: Tenberga, Inese
metadata.lang: -
metadata.name: dc.date.accessioned
metadata.value: 2020-02-12T12:41:58Z
metadata.lang: -
metadata.name: dc.date.available
metadata.value: 2020-02-12T12:41:58Z
metadata.lang: -
metadata.name: dc.date.issued
metadata.value: 2018-12
metadata.lang: -
metadata.name: dc.identifier.citation
metadata.value: Redkin, Oleg I., Rudokvas, Anton D., Tenberga, Inese. 2018. Investment technologies оf Islamic banks and prospects for the development of an interest-free banking sector in Russia. Pravovedenie 62 (4): 692–713.
metadata.lang: en_GB
metadata.name: dc.identifier.other
metadata.value: https://doi.org/10.21638/spbu25.2018.407
metadata.lang: -
metadata.name: dc.identifier.uri
metadata.value: http://hdl.handle.net/11701/17094
metadata.lang: -
metadata.name: dc.description.abstract
metadata.value: The global financial crisis of 2008-2009 catalyzed a redefining of the basics of the conventional
  financial model and sought opportunities for its ethical reset. In this regard, investment banking
  technologies are becoming increasingly important. Nowadays Full Fledged Islamic Banks
  with their inherent refusal to charge and pay interest and conduct speculative operations influence
  a new trend in investment banking. Islamic banking offers the solutions to attract alternative
  sources of finance without making financial policies of countries directly dependent on the
  cost of credit funds and generates new opportunities for investors. The investment activities
  of Islamic banks are considered to be one of the most efficient instruments to ensure financial
  stability and sustainable economic development. Apart from pooling the assets of Muslim investors,
  Islamic banking mobilizes their spiritual potential. However, in Russian jurisprudence
  Islamic banking remains an understudied and poorly understood phenomenon. This article addresses
  the core aspects of Islamic law, prohibitive imperatives and moral compass of Islamic
  banks. Special attention is paid to the concept of justice in Islamic banking, as well as condemnation
  of usury in the Christian tradition. In conclusion, the authors propose to adopt the law on
  investment and trust banking to establish two financial sectors in Russia: interest-bearing and
  interest-free, and distinguish credit (conventional) commercial banks involved in accustomed
  usury banking from commercial banks focused on non-usury banking based on the pattern of
  Islamic banks. In order to establish commercial banks of a new type, the civil concept of trust
  should be borrowed.
metadata.lang: en_GB
metadata.name: dc.language.iso
metadata.value: ru
metadata.lang: en_GB
metadata.name: dc.publisher
metadata.value: St Petersburg State University
metadata.lang: en_GB
metadata.name: dc.relation.ispartofseries
metadata.value: Pravovedenie;Volume 62; Issue 4
metadata.lang: -
metadata.name: dc.subject
metadata.value: Islamic banking
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: Islamic bank
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: investments
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: unlawful interest (riba)
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: justice
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: investment- trust banking sector
metadata.lang: en_GB
metadata.name: dc.title
metadata.value: Investment technologies оf Islamic banks and prospects for the development of an interest-free banking sector in Russia
metadata.lang: en_GB
metadata.name: dc.type
metadata.value: Article
metadata.lang: en_GB
resources.filename: 692-713.pdf
resources.url: https://dspace.spbu.ru/bitstream/11701/17094/1/692-713.pdf
resources.format: Adobe PDF
resources.size: 736,34 kB