Russia’s second-largest bank, VTB Group and Gazprombank are aspiringto become the first Russian borrowers to sell Islamic debt so as to attract Middle Eastern investment.
“We strongly believe it is just a matter of time for Russia to catch up with the global market for Islamic finance,” said Zaid Maleh, director of Investment Banking for Middle East and Africa at VTB Capital, the investment business of Russia’s VTB Group……………………………………….Full Article: Source