Midhat Shagiakhmetov: the bill on Islamic finance takes into account all the main proposals of Tatarstan

This was announced by the Deputy Prime Minister of the Republic of Tatarstan - Minister of Economy of the Republic of Tatarstan at a briefing in the Cabinet of Ministers of the Republic of Tatarstan on the topic "On the results of the participation of the delegation of the Republic of Tatarstan in the St. Petersburg International Economic Forum – 2023".

He noted that special attention was paid at the forum to the instruments of stimulating and attracting investments, one of which is partner financing. 

A separate session was organized on the topic of attracting investments to Russia using Islamic banking tools, where Anatoly Aksakov, Chairman of the State Duma Committee on the Financial Market, announced the next date for the adoption of the bill in July and the start of the experiment from September this year.

Midhat Shagiakhmetov stressed that the version of the bill planned for adoption takes into account all the main proposals from the Republic of Tatarstan and thanked the Government of the country, the Bank of Russia, the State Duma of the Russian Federation and the pilot regions participating in the experiment for their joint constructive work.

"It is important that traditional support tools, banking products and partnerships are equally accessible and have the same cost," the Economy minister said.

The speaker also noted that with the adoption of the law, a lot of work is to be done to inform the population and business and implement Islamic financing instruments in the republic.