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Banking Sector Cleanup Damaging Russian Businesses

Russia's financial ombudsman warned Friday that a mass withdrawal of banking licenses from Russian lenders was damaging the country's small businesses. The Central Bank has revoked the licenses of more than 150 banks since the start of 2014 — including three banks on Friday alone — in a bid to clean up a sector riven with suspicious trades and creative accounting. But the high tempo of the purge is damaging the companies these banks serve, the ombudsman,...

20.10.2015

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Alternative Finance in a Time of Crisis: How Russia is Looking to Introduce Islamic Banking

... interest on its lending opened in independent Pakistan in the late 1950s. The first Islamic bank to prove its viability, however, was launched in Egypt in 1963. The institution had a goal of appealing to poor Egyptians who lacked confidence in state-run banks and opened nine branches throughout Egypt, but was shut down by the Nasser government in 1968 due to its perceived links to Islamic fundamentalism. Islamic banks as we know them today developed in the Middle East thanks to the oil boom of the 1970s....

10.08.2015

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U.S. wants to establish partnership relations with Russia on condition that it meets the U.S. requirements	33 (31%)
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U.S. wants to establish alliance relations with Russia under the US conditions to rival China	21 (19%)