Tajik banks interested in Islamic banking
The National Bank of Tajikistan announced that most banks operating in Tajikistan are interested in introducing the Islamic banking principles in their activity.
The bank reported that the lower house of the parliament adopted the draft law on Islamic banking in Tajikistan this May, Avesta.Tj reported.
Currently, a group of specialists is working out draft amendments to a number of Tajikistan's laws. These amendments will promote organization of the Islamic banking regulation mechanism, NBT said.
Today, the economy of Tajikistan is sharply needed in investments and the Islamic banking principles are expected to help in expanding a range of banking transactions, finding new sources of external financing and internal deposits.
Islamic banking refers to a system of banking or banking activity that is consistent with the principles of the Shari'ah (Islamic rulings) and its practical application through the development of Islamic economics. The principles which emphasize moral and ethical values in all dealings have wide universal appeal.