OREANDA-NEWS  The transfer of the work of Islamic banking institutions in Russia to a permanent basis is quite realistic against the background of the weakening of the positions of the United States and American savings institutions in the region, as well as the growing interest of Middle Eastern elites in the Russian Federation. Nikita Mendkovich, an international political scientist and orientalist, stated this in a conversation with Ridus.

According to him, possible concerns about the use of Islamic financial institutions to finance religious extremists are unfounded, since schemes involving conventional banks and informal transfer systems can be used for these purposes.

"As for the political issues related to Islamic banking, a system of regulation of its work is being introduced. The legal status is given to it precisely in order to exclude uncontrolled gray mechanisms in the functioning of such institutions," the political scientist explained.

At the end of 2025, the State Duma announced negotiations on the creation of an Islamic bank in Russia. It was expected that such a financial organization could appear in the country in 2026.