DPR breaks the blockade of the financial system
One of the main results of the Donetsk International Investment Forum was the fateful decision for the DPR to open a representative office of the Islamic EcoBank.
The head of the Central Executive Committee of the Social Movement “Donetsk Republic” Alexey Muratov told a PolitNavigator correspondent about this.
According to him, this will make it possible to carry out international financial transactions directly from the DPR.
“As the Head of the DPR Denis Pushilin emphasized, this decision is one of the promising financial instruments for the development of the economy of the Republic. Using the capabilities of Islamic banking will provide an opportunity for financing in the environmental, scientific and industrial sectors of the DPR.
It will be possible to create a kind of offshore zone with complete exemption from taxes and customs duties for foreign investors.
Moreover, to attract foreign investors it is planned to provide special conditions, including the issue of legalizing the infrastructure of blockchain technologies. This will allow us to quickly remove from the agenda the most pressing problem for the DPR – the inability to directly conduct full-fledged foreign financial and economic activity,” Muratov explained.
At the same time, he noted that breaking through financial isolation would give a powerful impetus to the development of the new state.
“Unfortunately, due to the economic blockade, Donbass, despite its powerful industrial potential, was deprived of the opportunity for full economic development due to lack of access to the international financial market. At the same time, the population of the Republic turned into hostages, infringed on a wide range of rights
The development of digital technologies will allow the DPR to move from the status of an unrecognized country to a decentralized blockchain state, which will give a chance for successful intensive socio-economic development without changing the current legal status. This is very important, because the process of official recognition of the Republic by the world community may still take some time,” concluded Alexey Muratov.
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