RUSSIA: Sberbank of Russia to expand capabilities in Islamic financial business

Sberbank, the largest bank of Russia, today announced receiving the certification for its Mudaraba Finance transaction from Shariyah Review Bureau (SRB).

Sberbank, based in Moscow, is responsible for providing wide selection of banking services from deposits and to loans to bank cards, money transfers, bank insurance and brokerage services including supply chain finance solutions. The bank helps organizations optimize their working capital, reduce costs and mitigate financial risk.  It currently has 16 thousand branches in all 83 constituent entities of the Russian Federation. Read the full story

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