Prospects for the development of islamic mortgages in Russia
Keywords:
mortgage, Islamic banking, real estate, Islamic mortgage, apartment, land plot, sharia norms, bank, borrower, transaction, mortgage loan, murabaha, real estate leasingAbstract
The article is devoted to the study of topical issues related to the adoption in 2023 of a law on an experimental legal regime for the implementation of partner financing activities in four pilot regions of the Russian Federation - "Islamic banking". At the same time, special attention is paid to the new institution of "Islamic mortgages" for Russia, the emergence and development of which is associated with the adoption and entry into force of the relevant legislation. The article gives a general description of the Islamic banking system and the products provided as part of the implementation of this experiment. The essence of the Islamic mortgage was disclosed, the conditions for its provision by Russian banks were considered. A comparative analysis of Islamic mortgages with real estate leasing and classic mortgage lending was carried out. The key problems in the implementation of Islamic mortgages in Russia to date have been identified and possible ways to solve them have been identified.