ISLAMIC ECONOMIC MODEL AND THE PROBLEMS OF ITS APPLICATION IN RUSSIA, in Central Asia and the Caucasus (2006), № 1 (37).

The paper considers the experience of application of Islamic economic model in Russia. The history and current practice of Islamic financial institutions (Islamic banks, takaful-insurance companies, waqfs etc.) is observed. The author analyses the mistakes admitted in current work of Russian Islamic financial institutions. The author’s analysis is based on his own operational experience in Islamic bank and insurance company.