The Open Joint-Stock Company (OJSC) Tawhidbonk, the first full-fledged Islamic bank in Tajikistan, says tax and legislative barriers impede development of Islamic financing in the country.
Tawhidbonk notes that the current main problems facing Islamic banking in Tajikistan include imperfection of legislation, double taxation and non-recognition of financial transactions carried out by Islamic banks as banking transactions.The Open Joint-Stock Company (OJSC) Tawhidbonk, the first full-fledged Islamic bank in Tajikistan, says tax and legislative barriers impede development of Islamic financing in the country.
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