Round table on Islamic (Partner) Finance

Round table on Islamic (Partner) Finance
Today, the Tatarstan Investment Development Agency, together with the Public Chamber of the Republic of Tatarstan, organized a Round table on Islamic (partner) finance, where the basic principles of Islamic finance and the possibilities of using Islamic financial products and services in Tatarstan were discussed.

The event was opened by the Head of the Tatarstan Investment Development Agency Taliya Minullina and the Chairman of the Public Chamber of the Republic of Tatarstan Zilya Valeeva.

"Tatarstan has advanced in terms of Islamic finance, and there are a large number of organizations in our republic that provide services according to Sharia norms, but few people know about them" - Taliya Minullina, Head of the Tatarstan Investment Development Agency.

The main topics of discussion were:
—Islamic economy
—restrictions and prohibitions for Muslims in property relations
—Islamic financing
—islamic mortgage products
—permitted promotions and screening promotions
—financial services under Sharia law

In addition to the introductory lecture on the basics of Islamic finance, the participants of the round table presented their markets of services and products that can be obtained in the field of Islamic finance in the Republic of Tatarstan.

"Sberbank plans to open the first office of Islamic finance, the Beac+ format in Kazan. The program of Sberbank University "Islamic Financing" is already being launched. This program provides an understanding of the basics and specifics of Islamic commercial law and banking. We also sell products for retail and corporate clients in terms of leasing, debit cards, accounts, loans. We are actively developing our products and services and are very pleased that this specificity is progressing in the Republic of Tatarstan," said Gurban—Zadeh Behnam, Managing Director, Head of the Sberbank Partner Financing Center.

Artur Nurmukhametov, CEO of Sahih Invest, told about a mobile application developed jointly with the Russian Islamic Institute to analyze stocks for compliance with the norms of Islam. "Only 1% of the volume of the entire financial system complies with Sharia law, while 25% of the world's population are Muslims" – Artur Nurmukhametov.

The event also featured the XIV International Economic Summit "Russia – the Islamic World: KazanSummit 2023", where representatives of Islamic finance organizations can present their services, products and ideas. Taliya Minullina also recalled that KazanSummit has acquired federal status, along with the St. Petersburg and Eastern Economic Forums.

"KazanSummit-2023" will be held on May 18-19.

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