The president and chairman of Sberbank considers the launching of Islamic Banking the key to attract more business and capital from the East, so he will do his best to facilitate the enactment of the bill, said Gref to the media on the briefing on Friday, as presented by the special correspondent of portal.

“It is very important story and we are working hard on this”, said Gref, answering the journalist’s question about his position regarding the launching of the Islamic banking in Russia. “We will facilitate the enactment of this bill in every way possible. I think that this is a very important instrument in present conditions where it is hard to attract capital and investments from international markets”, adds Gref.

“We try to attract financing from all the places possible. The second half of the year has been passing with the significant increase of Eastern investors. We have signed several agreements with Chinese banks, the most recent one was signed one month ago. We have been working with investors from Arab countries as well, and it is, above all, to attract capital. Unfortunately, it will not substitute the declining market”, said Gref.

It is to be recalled that currently there is a government bill in the State Duma, which sets the operation policy of Islamic banking in Russia. Anatoly Aksakov, the State Duma Deputy and the head of Association of Regional Banks of Russia (Association “Russia”), was one of the sponsors of the bill.