bricslawjournalBRICS Law JournalЮридический журнал БРИКС2409-90582412-2343Publishing House V.Ема10.21684/2412-2343-2017-4-3-74-83bricslawjournal-107Research ArticleARTICLEOPPORTUNITIES FOR ADAPTING ISLAMIC BANKING PRODUCTS TO THE RUSSIAN LEGISLATIVE FRAMEWORKMalyaevV.

Associate Professor, Department of Banking, Faculty of Economics,

25/12 Bolshaya Pecherskaya St., Nizhniy Novgorod, 603155

vmaliaev@hse.ruNational Research University Higher School of EconomicsRussian Federation201706102017436280Copyright © Malyaev V., 20172017Malyaev V.Malyaev V.This work is licensed under a Creative Commons Attribution 4.0 License.https://www.bricslawjournal.com/jour/article/view/107

In countries with a large Muslim population who are not willing to trust their savings to traditional banks, as well as a significant number of Muslim entrepreneurs who are not using the services of traditional banks, the creation of Islamic financial institutions can improve the efficiency of the financial market and accelerate its development. Russia is one of these countries. Islamic financial products can attract both Russian companies as well as traditional companies oriented to the observance of the Quran. While Russian legislation does not provide opportunities for the application of Islamic financial products, the issues of adaptation and the possibility of realising these projects in Russia are becoming very relevant. The aim of this paper is to present the results of a study devoted to the analysis of possibilities of the application of Islamic financial products in Russia.

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The authors declare that there are no conflicts of interest present.