Sber bank has established the first Islamic finance branch in Dagestan, providing clients with banking services in accordance to Sharia principles. This development not only contributes to the growth of the local financial sector, but also provides opportunities for individuals who prefer Sharia-compliant services in the region.

The branch offers a range of 15 financial products that are in line with Sharia regulations, catering to the needs of the diverse population in Dagestan. Dagestan, alongside Tatarstan, participates in a pilot project on Islamic banking, which aims to promote the adoption of Islamic finance practices in these regions.