| | | | PROBLEMS OF MODERN ECONOMICS, N 4 (32), 2009 | | | | FINANCE AND CREDIT SYSTEM: BUDGET, CURRENCY AND CREDIT REGULATION OF ECONOMY, INVESTMENT RESOURCES | | | Kalimullina M.
PhD student, Chair of Microeconomics, Academy of Finances under the Government of the Russian Federation
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| | | The article focuses of Islamic banks and their attractiveness which emerges due to their capacity to overcome financial unsteadiness caused by the global financial crisis. The author discusses Islamic banking in Kazakhstan, Kyrgyzstan, Azerbaijan and Russia both from theoretical and practical perspectives, paying particular attention to JSC “EcoBank” in Kyrgyz Republic, the only bank on CIS territory operating on Islamic principles of finance in accordance with the legislation of the country. The article discusses the bank’s financial operations as well as the major it currently faces, related to legislative regulation, qualified personnel, people’s mentality, etc. These problems are common for all the CIS countries, taking into account the common history similarity of their legislation | | Key words: Islamic banks, world financial crisis, Kazakhstan, Kyrgyzstan, Azerbaijan, bank legislation, JSC "EcoBank" | |
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