OREANDA-NEWS. Sberbank and the Republic of Tatarstan have signed a cooperation agreement in the area of Islamic finance. CEO and Chairman of the Executive Board of Sberbank, Herman Gref, and Acting President of the Republic of Tatarstan, Rustam Minnikhanov, signed the document.

The agreement provides for cooperation between the parties to study and form proposals for the development of Islamic finance in the region.

"Sberbank values the prospects for developing Islamic Finance," said Herman Gref. "Cooperation in this area will promote the socioeconomic development of the Republic of Tatarstan."