Pioneer Islamic Economics and Banking Experience in Tsarist Russia

Mohyedine Hajjar and Fatih Habib
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Mohyedine Hajjar: Pantheon-Sorbonne University
Fatih Habib: University of Kazan

Chapter Chapter 10 in Islamic Finance in Europe, 2019, pp 257-269 from Palgrave Macmillan

Abstract: Abstract Muslims in Tsarist Russia played a pioneering role in establishing Islamic economics and banking. The Tatar scholars ensured a profound reflection on Islamic economics. Tatar Islamic press also contributed to the diffusion of Islamic economics awareness and appealed to Muslims to enhance the economy, to develop industry and financial institutions, and to prohibit ribā. Their efforts led to the appearance of the first known journal, named Iqtisad, dedicated to the Islamic economy. This journal presented the first use of the idea of “Islamic Bank”. Tatar theologians used the mutual banks prototype to launch Islamic banking activity, as was the case of the mutual bank of the city of Samara. Sources mention that an Islamic bank was established in 1912 in St. Petersburg.

Keywords: Islamic economics; Islamic banking; Islam; Russia; Tatar; First Islamic bank; First Islamic economic journal (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:pal:psibcp:978-3-030-04094-9_10

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DOI: 10.1007/978-3-030-04094-9_10

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