Global and Russian Experience of Islamic Banking

Abstract

This article explores the basic principles of the implementation of Islamic banking, providing an overview of the mechanisms of operation of various financial instruments and their differences from traditional banking services. The second part of the paper provides information on the current state of Islamic finance in Russia and in the world, reveals the trend of development of this industry. The conclusion highlights the main problems associated with the integration of Islamic banking in the financial system of Russia, presents the prospects for the development of these financial products, and emphasizes the importance of taking into account cultural and legislative peculiarities in the implementation of Islamic financial mechanisms.