The President of the Chamber of Commerce and Industry, in an interview with Rossiyskaya Gazeta on the sidelines of the event “Russia and the Islamic World: KazanForum,” said that companies that profess an Islamic approach to finance can be settled with digital financial assets and cryptocurrency.

Sergey Katyrin assured: under the conditions of US and European Union sanctions, banks and central banks of eastern countries treat digital assets with confidence:

“On a serious scale, you can pay and invest in digital financial assets. Perhaps in cryptocurrency, by the way.”

According to the head of the Russian Chamber of Commerce and Industry, Russian and Eastern businesses will quickly find a common language on the issue of settlements using virtual assets.

Russia is increasing supplies of food, fertilizers, metals, and chemical products to the Persian Gulf countries, Turkey, Asia and Africa in general, assures Sergei Katyrin. The products, according to the president of the Chamber of Commerce and Industry, meet all halal marketing standards, including the so-called Islamic banking.

Previously, a resident of the Innopolis special economic zone in the Republic of Tatarstan, the Universal Blockchain IT corporation issued a digital sukuk worth 1 million rubles on the Masterchain platform, which is positioned as complying with Shariah principles.