Pushilin announces plans to open bank in cooperation with Islamic Business Association

Donetsk, Oct 29 – DAN. Donetsk will develop cooperation with the International Association of Islamic Business (IAIB) and is considering Islamic banking as one of the cooperation areas, Donetsk People’s Republic Head Denis Pushilin said at the International Investment Forum in Donetsk on Tuesday.

“We believe that the promising financial instruments in developing the Republic’s economy include the use of Islamic banking opportunities and the launching of a bank on their basis to fund DPR projects in the environmental, research and industrial sectors,” Pushilin said.

He said that the DPR and the IAIB had found mutual understanding during negotiations. The Association stated its intention to provide all assistance to the Republic in developing its economy and business. *jk

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