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Redmoney Consulting

Increasing government efforts position the sector for rapid expansion

Islamic banking in Commonwealth of Independent States (CIS) countries remains underdeveloped, although the region has a large Muslim population. Governments, however, are stepping up efforts to develop the sector by laying out legal and regulatory infrastructure. This will lead to significant expansion of Islamic finance in the coming years, albeit from a very low base, building on the region's demographic and cultural foundation.

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