Исламские финансовые инструменты: оценка применимости на традиционных финансовых рынках

Банковские услуги. 2018. № 5. С. 37–43.

Soldatova A.

The prohibition of interest on loans ("riba") is the main principle of Islamic finance,
which distinguishes Islamic banking from the modern banking business,
built on the principles of payment for urgency, repayment. Special structures developed
within the framework of Islamic finance
comply with the laws of the
Sharia and can be used as an
alternative to traditional instruments of
financing and investment. Such
financial structures include murabaha
(sale with an agreed margin), mudaraba
(equity investment), musharaha (equity
participation), ijara (rent, leasing) sukuk
(share, investment certificate). The author
analyzes the features of the instruments of
Islamic financing, finding out which of them are most relevant to the modern
financial market and applicable for Russia.
The author focuses on three instruments:
project financing, the issue of Islamic
bonds sukuk and Islamic securitization. It was concluded that in order to implement in Russia the principles characteristic of Islamic finance, certain changes in the field of banking legislation are necessary.

Keywords: риба, гарар, иджара, ribah, maysir, idjara, garar, майсир