18 March 2009, 11:45
Mufti calls Russia to extend Islamic financing system
Moscow, March 18, Interfax - Chairman of Russia's Mufti Council Ravil Gaynutdin considers the Islam financial system as an efficient alternative option to the world financial system and hopes to expand it within Russia.
"We believe that with the help of God, Russia with its enormous economic and scientific potential and a large share of Muslim population, and the role which this country enjoys being part of the Islamic world, will efficiently and reasonably use the potential of Islamic financing instruments which now are attracting considerable interest of both scientific and business circles," Mufti Gaynutdin said at the International Islamic Banking conference held in Moscow.
He said that "the global recession made us think about many things and realize that the existing credit system is completely wrong and that the economists who have warned the world about the huge credit bubble threatening the global economic system are completely right."
"However, there is always an alternative way which was conceived in its current form in 1960s and has already proved its viability. The system focuses on moral and ethical values as opposed to ubiquitous consumer attitudes which concentrate on gaining profit. Today, this alternative is referred to as Islamic banking," Gaynutdin said.
He reminded that the Prophet Muhammad himself "before he received his Prophet Mission, had been involved in trade, managed the trade business and became widely known for his honesty and integrity in trade deserving trust and respect of people."
Mufti Gaynutdin believes that the Islamic economy is a comeback to the principles which, according to him, God commanded not only in Qur'an, but also in the Bible.
- Russian courts imposed fines for gay propaganda only twice last year 29 June 2015, 18:20
- Russian Church denies reports of time and place of Patriarch-Pope meeting being set 29 June 2015, 18:18
- Leader of Russia's major Protestant Church calls the day when homosexual "marriages" were legalized the most shameful in Christian history of the USA 29 June 2015, 17:21
- Georgian patriarch condemns same-sex "marriage" permitted in U.S 29 June 2015, 12:46
- St. Petersburg scientologists refused in registration 29 June 2015, 12:11
- Second attack on Orthodox church in month reported in Kiev Region 29 June 2015, 10:20
- U.S. decision to legalize same-sex "marriages" godless, sinful - Russian Church 29 June 2015, 10:00
- Russians are now more loyal to sex before marriage than they were 25 years ago - poll 26 June 2015, 18:09
- Priest for the Far North wanted by the Russian Orthodox Church 26 June 2015, 17:02
- Patriarch Kirill to perform funeral prayer for Yevgeny Primakov 26 June 2015, 16:56
- Uzbekistan concerned about women's recruitment for ISIL 26 June 2015, 11:47
- European Islamophobia makes Baku think about leaving the Council of Europe 26 June 2015, 11:45
- Kadyrov: Islamic State has no chances in Chechnya 26 June 2015, 11:43
- Tajik leader brands IS 'plague of the century' 26 June 2015, 10:16
- Head of Armenian Catholic Church dies 26 June 2015, 10:00
- Patrushev dubs activity of ISIL terrorists as main threat to peace, security 25 June 2015, 15:55
- Ukrainian Security Service reports detention of two Islamist women from Russia 25 June 2015, 15:01
- Only 3% of Russians said the main threat is from Islamic terrorists 25 June 2015, 12:31
- Church activists suggest making cases for gadgets with quotes from the Gospels 24 June 2015, 12:04
- Russian Security Council deputy secretary: the Middle East states should pray for Al-Assad 24 June 2015, 11:17
- Patriarch Kirill prays for repose of souls of Brest Fortress heroes 22 June 2015, 18:04
- Russia extradites Islamic Party of Turkestan extremist to Uzbekistan 22 June 2015, 17:40
- New attempts of the Ukrainian schismatics to set up a local church have no prospects, the UOC official believes 22 June 2015, 17:38
- Leader of Islamic Party is afraid to return to Tajikistan 22 June 2015, 10:40
- Archbishopric of Brussels and Belgium rejects Belgian courts' claims on its assets 22 June 2015, 10:13
- Lukashenko promises Patriarch Kirill to do his utmost to stop war in Ukraine 22 June 2015, 10:00
- Hizb ut-Tahrir printing house found in south Kyrgyzstan 19 June 2015, 18:10
- Archpriest Vsevolod Chaplin predicts not more than two hundred years to native peoples of Europe if they won't return to their Christian roots 19 June 2015, 15:53
- Thirteen Salafi Muslims jailed in Tajikistan 19 June 2015, 15:47
- Russian Orthodox Church calls threats to seize its property in Belgium 'legal ignorance' (updated) 19 June 2015, 15:44