Features of Islamic Banking in Iran in the Context of Russian-Iranian Economic Cooperation

The relevance of the chosen topic is due to the growing interest in Islamic finance in the international economic environment, particularly in Islamic banking, as well as actively expanding trade, economic and financial relations between Russia and Iran in recent years. The purpose of the study is to identify the significant features of Islamic banking in Iran in the context of Russian-Iranian financial cooperation. The objectives of the study are to analyze the banking system of the Islamic Republic and identify significant features of interest to the Russian side. The value of the study lies in the description of important aspects of Islamic banking in Iran, which have the potential for both practical, in the context of bilateral economic cooperation, and scientific, given the very small number of studies on this topic, which also characterizes the high scientific novelty of the research. The result of the work is the identification of the following features: integrated banking system, its compliance with the Shiite Islamic law, the use of power of attorney agreement and the presence of payment of preliminary profits. Among the identified features, the most important from the point of view of Russian-Iranian financial cooperation, namely, the universal character of the Iranian banking system and adherence to the Basel standards of banking activities are identified.

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