Last week, the Russian Chamber of Commerce and Industry threw its support behind a so-called Orthodox Financial System developed under the aegis of the Moscow Patriarchate and strongly resembling the better known Islamic financial system.
"The Chamber of Commerce and Industry supports the creation of the Orthodox Financial System … and is ready to provide its platform for detailed and professional discussion of these questions together with the relevant committees of the chamber," the chamber's press service reported last Friday after a meeting between its chairman Sergei Katyrin and Vsevolod Chaplin, a senior Orthodox cleric overseeing the project.
"Now, during a time of crisis when access to financial resources is limited because of sanctions, we are finally being heard. And society has reacted positively to our proposal," said Dmitry Surmilo, the coordinator of the working group creating the Orthodox Financial System at the Moscow Patriarchate's department of external church relations.
Based on Russian law, Orthodox morals and Russian business traditions, the Orthodox Financial System is designed to be resilient to world crises and help reduce Russia's reliance on the Western banking system, the project's authors said.The Moscow Times
Orthodox Church Calls for Alternative Financial System in Russia
Anastasia Bazenkova
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