Prospects for the development of Islamic banking in Russia

The article presents a new type of banking activity, referred to as Islamic banking. The principles and mechanism of Islamic banking, as well as development prospects for the next two years, have been studied. The prospects of involving Islamic finance in the financial system of the state, including Russia, by developing Islamic banking are shown. The analysis revealed legal issues that arise during the implementation of the pilot project, which, with the right approach, can be corrected.