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Arab Islamic Banks Come to Russia

Arab banks adhering  to the Shariah rules are  ready to enter the Russian market through local players. The Russian “Kommersant” writes with reference to the Executive Director– Financial Institutions Supervision at the Central Bank of Bahrain Abdul-Rahman Al-Baker.
We are talking about at least two banks – Bahraini Al Baraka and Sudanese Al Shamal, which are currently negotiating to join the capital of the Russian banking structures.
Al Baraka Banking Group (Al Baraka), headquartered in Manama,  has a network of offices around the world, ranks fourth  among Islamic banks. In 2014, the bank’s operating profit amounted to $ 396 million,  net profit – $ 275 million.
Sudanese Al Shamal Islamic is  one of the largest banks in Sudan and one of the leading Islamic banks in North Africa. The bank’s  capital is about  $ 44 million.  In 2013, total assets amounted to $ 230 million.