Islamic financial system: from the current state to development prospects //Шошин, С. В. Исламская финансовая система: от современного состояния к перспективам развития// Правосубъектность участников финансовых правоотношений и ее трансформация в условиях цифровой экономики: Сборник по материалам форума – Саратов: СГЮА, 2022. – С. 204-206.

In modern economic conditions, one can observe the development of the scientific creativity of researchers involved in the study of the problems caused by the Islamic financial system. In Islamic finance

The system is usually divided into 4 main principles of its functioning:

1. Prohibition of charging loan interest (the so-called riba).

2. Prohibition of the use of excessive transaction uncertainty (the so-called gharar).

3. Prohibition of using the practice of gambling and speculative behavior (the so-called meysir).

4. The absence of permissibility to practice transactions prohibited by the Koran (activities for the production and trade in weapons, alcoholic products, pornographic products, etc.) (the so-called haram).

Also, the Islamic financial system is found in many

relations determined by the practice of using moral norms (ethical restrictions) that exist in the theory of philosophy of Islamic religious teachings.

There are many positive aspects inherent in the practice of using the technological achievements of modern Islamic banking, the Islamic financial system, today many no longer doubt. However, the only Russian bank that adhered to this practice, the International Commercial Bank Badr-Forte Bank (Closed Joint Stock Company), which existed since September 1991 and operated in Moscow, was liquidated in September 2013. Many versions can be expressed to substantiate this established practice. Nevertheless, it is worth recommending that you reconsider the issue of attracting resources from the Islamic financial system. To address issues of economic support for the process of state building (management) in the conditions of the modern Russian Federation.

The practice of attracting credit banking resources, used at the regional level, is accompanied by the accrual of very significant interest for the use of such funds. As a result, there is a significant increase in the debt of specific recipients of such bank loans. On the other hand, ethically dubious enrichment of banking structures that provide such financing (crediting). Using the significant potential of financial resources available to the Islamic financial system, banks adhering to such an ideology may well reduce the burden of the financial burden on the above recipients of commercial bank loans. Such a recommendation may turn out to be especially relevant given the significant difference in the refinancing rates set by the Central Bank of Russia (the key rate) in the amount of 5% and a similar indicator of the European the Central Bank at 0%, as well as a similar US Federal Reserve rate of 0.25%.

Here, it can be quite illustrative to compare such a situation with the practice of the so-called "shark fishing" prohibited in the United States at the legislative level, i.e. extraction of excess profits, obviously exceeding the values ​​​​available to other users. As expected, the concept of the Islamic financial system, used for a long period of time by many Arab (and not only) countries, contains elements that are very attractive for interdisciplinary scientific analysis and use in the modern Russian economy. Its implementation in Russia is able to give a new impetus to the development of economic and political strategies.