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Bank Payment Cards in the Frames of Islamic Banking

Author (s)

Kayumov Naimjohn Nabiyevich


The article dwells on the problems of Islamic banking development in Tajikistan Republic. In 2014 they adopted the law of the Republic of Tajikistan “On Islamic Bank Activities”, #1108. It deals with the use of Islamic payment cards in the countries of South-East Asia and some Arabian ones and the experience of application of Islamic bank products by them, in particular, bank payment cards. The author of the article points to the types of activities falling under the prohibition of shariat in the sphere of economics and banking. He adduces the stages of the development concerned with payment cards of Islamic banks which have “Islamic windows” (Bank of America Bardays, BNP Paribas, Citibank, JP Morgan Chase, HSBS). The conclusion is made that in Tajikistan Republic there is a huge potential for a development of Islamic banking upon the whole, in particular, for application of Islamic bank payment cards and utilization of other Islamic banking products. 


Islamic banking, traditional banking, Islamic payment card, Islamic finances, stages of development, bank products, services of Islamic banks.


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Publication date

Wednesday, 28 February 2018