DUSHANBE, June 13, 2011, Asia-Plus – The Islamic Development Bank (IDB) offered the Tajik Agroinvestbank to use Islamic banking.
According to Agroinvestbank, the idea was announced by IDB at the last week’s meeting with Agroinvestbank’s officials in Dushanbe.
According to the source, visitors suggested the Tajik bank to provide different types of banking services. “They were interested if there is an opportunity to introduce Islamic banking in Tajikistan, they also asked if there are any barriers that can hamper introduction of Islamic banking in the country,” the bank stressed, adding that IDB officials have also met with Tajik officials and bankers and discussed opportunities for introduction of Islamic banking in the republic.
Islamic banking is a way in which bank operations are performed in line with Islamic religious standards. This system strongly forbids any loans which are also forbidden by the Koran.
Additionally, Muslims are forbidden to risk (as a result – to gamble and take part in exchange operations). These aspects represent the principal difference between the Islamic and traditional banking.
