Agent analysis of the practice of microfinance operations in Russia in the light of the prohibition of interest in the partner model of finance

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Doklady Bashkirskogo Universiteta. 2017. Volume 2. No. 6. pp. 877-882.

Authors

Ishmukhametov N. S.*
Bashkir State University
32 Zaki Validi Street, 450074 Ufa, Republic of Bashkortostan, Russia
Asadullina A. V.
All-Russian Academy of Foreign Trade
4A Pudovkina, 119285 Moscow, Russia

Abstract

The analysis of microfinance operations in Russia, their differences from foreign practices is carried out. A hypothesis has been put forward on saving of transaction costs of monitoring the level of “normal” value of bank interest in the case of the partner finance model in which the interest for the use of capital is completely prohibited.

Keywords

  • Islamic finance
  • microfinance institutions
  • Islamic financial instruments
  • agent-based modeling
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