Tass — Russian Church trying to attract regional governors to setting up Orthodox Christian bank

The chief of Moscow Patriarchate’s department for communications between the Church and Society, Vsevolod Chaplin, has called on the governors of the Belgorod, Kemerovo and Pskov regions, the constituent republic of Mariy-El and the Stavropol territory to take part in the setting up of the Orthodox Christian financial system and an Orthodox Christian bank, Izvestia daily said on Tuesday.…

“The main distinctive feature the Orthodox Christian bank will have is that it won’t issue loans or open deposits,” he said. “Its main objective will be to act as a mediator between Orthodox investors. Hopefully, the Orthodox bankers will offer to form the banking capitals on the basis of gold in the future.” 

Absence of interest rates should become the main principle and asset of an Orthodox banking institution. The concept proposed by Chaplin says bonuses from investments in joint projects should depend on the profitability of an enterprise. 

Along with this, the future Orthodox bank will be forbidden to engage in any operations not aimed at creating the real public wealth or to provide funding for the spheres standing at variance with the ethical principles of Russian Orthodoxy, like gambling, tobacco production, seductive entertainments, the activities related to drugs and so on, Chaplin’s letters say.

Tass
Russian Church trying to attract regional governors to setting up Orthodox Christian bank