An Islamic banking office opened in Chechnya

Sberbank opened the first Islamic banking office in the North Caucasus in the capital of Chechnya, Grozny. It will offer more than 15 Shariah-compliant affiliate financing products.

In addition, in 2023, Sberbank launched the first edition of Islamic finance cards in the North Caucasus Federal District. Chechnya and Dagestan are the leaders in sales of halal debit cards in the country.

The number of participants in the experiment on Islamic banking in Russia continues to grow, said Ekaterina Lozgacheva, director of the department of strategic development of the financial market of the Central Bank of the Russian Federation, at the Caucasus Investment Forum. Currently, more than 20 organizations are included in the register.

Islamic banking is a way of conducting banking activities that involves compliance with the religious rules of Sharia. It prohibits investing money in alcohol, gambling and certain types of meat. When making transactions, financial institutions will not be able to set remuneration expressed in the form of an interest rate.

Последние новости
In the Moscow Region, members of the
Society
In the Moscow Region, members of the "Russian Community" entered into a conflict with Chechens and Ingush
15 July 2025

A mass brawl between natives of Chechnya and Ingushetia on one side and, presumably, members of the nationalist organization "Russian Community" on the other took place in Krasnozavodsk, Moscow Region.
Macron and Trump spoke about the prospects of a peace agreement between Armenia and Azerbaijan
Politics
Macron and Trump spoke about the prospects of a peace agreement between Armenia and Azerbaijan
15 July 2025

The Armenian-Azerbaijani topic became the central one at the meeting between Armenian Prime Minister Nikol Pashinyan and French President Emmanuel Macron in Paris.
Kidnapped teenagers released in Chechnya, and their fathers signed contracts with the Russian Defense Ministry
Human rights
Kidnapped teenagers released in Chechnya, and their fathers signed contracts with the Russian Defense Ministry
14 July 2025

After more than six months of illegal detention in Grozny Police Department No. 2, 16-year-olds Said Idigov, Elbrus Saidaev, and Mansur Shabazov were released. They were kidnapped in December 2024 and held without charges, the Memorial Human Rights Center reported.
Pashinyan met with EU leaders
Politics
Pashinyan met with EU leaders
14 July 2025

The EU seeks to further integrate Armenia into the European space economically and politically. This was discussed at a meeting in Brussels between European Council President Antonio Costa, European Commission President Ursula von der Leyen and Armenian Prime Minister Nikol Pashinyan.