In 2024, Tinkoff will launch the first federal Islamic banking in Russia. The project will allow the use of banking services that have been developed taking into account Sharia norms and Islamic ethics. This was announced at the economic forum "Russia - Islamic World: KazanForum" in Kazan.
Islamic banking will be available not only to regions participating in the Islamic finance experiment, but also to all Muslims in Russia. The Muftiate of the Republic of Tatarstan has officially approved these products.
Islamic banking involves keeping clients' funds in special dedicated accounts. Clients' investments will not be used in activities that contradict Sharia.
One of Tinkoff's first products under the new service will be a special bank card. Its holders will be able to transfer funds to Muslim countries without commission within the established limit. Cardholders will not be able to pay for services, goods and products from their haram spheres. In the future, halal cashback will be added to the "Islamic card".
Islamic investments and installments, as well as leasing for legal entities, will also appear before the end of the year.
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