Wed, Oct 1, 2014
A A A
Welcome bhaimia
RSS

Islamic Finance Briefing - Categorized | Banking, Emerging Trends more

Kyrgyzstan: Islamic banking offers alternative to the “European system”

Posted on 15 June 2011

Islamic banking is getting off to a slow start in Kyrgyzstan. But the country’s first brokerage agency following Islamic practices is changing the way Kyrgyz citizens – pious and secular alike – think about finance.

Islamic banking faced daunting hurdles in Kyrgyzstan, where the secular elite has long regarded religion with suspicion. Ultimately, it was the persistence of entrepreneurs like Shamil Murtazaliev that paved the way for agencies like Muslim. In 1997, Murtazaliev bought a local branch of Russian Credit Bank and renamed it EcoBank to “break the monopoly” of the Western-style banking system in Kyrgyzstan and offer Islamic finance as a viable alternatives……………………………………….Full Article: Source

 
Article link

This post was written by:

Laxman - who has written 19163 posts on Opalesque Islamic Finance Briefing.


Contact the author

Comments are closed.

banner
October 2014
M T W T F S S
« May    
 12345
6789101112
13141516171819
20212223242526
2728293031