The Ministry of Economy of the Republic of Tatarstan discussed the Action Plan for the development of partner (Islamic) finance in Tatarstan

7 September 2023, Thursday

Deputy Prime Minister of the Republic of Tatarstan - Minister of Economy of the Republic of Tatarstan Midhat Shagiakhmetov held a meeting together with the management of credit and financial organizations working within the framework of partner financing, representatives of the Spiritual Administration of Muslims of the Republic of Tatarstan, Kazan (Volga Region) Federal University and the Russian Islamic Institute.

Within the framework of this meeting, issues of improving the financial literacy of the population and business in the field of partner finance, training specialists in this field, as well as the issue of applied aspects of the development of partner finance in the framework of the experiment were discussed. Deputy of the Spiritual Administration of Muslims of the Republic of Tatarstan, Rector of the Russian Islamic Institute Rafik Hazrat Mukhammetshin, Vice-Rector for Economic and Strategic Development of KFU Marat Safiullin and Academic Secretary of the Council of Ulema of the Republic of Tatarstan, Vice-Rector of the RIA Rustam Hazrat Nurgaliyev spoke on these issues.

Also during the meeting, the issue of taxation within the framework of the experiment on partner (Islamic) finance was raised. Practical experience was shared by Marat Sadriev, Head of Islamic Banking at AK BARS BANK PJSC, and Renat Yedikhanov, Commercial Director of Amal Financial House.

The coordinator of the project of the housing accumulative cooperative "Housing Traditions" Ramil Batyrshin outlined the role of cooperatives in the experiment.

Benkhan Gurban-Zadeh, Head of the Partner Financing Center of Sberbank PJSC, Rustam Sagdeev, General Director of Amal Fund, Ramil Gaizatullin, General Director of AK BARS CAPITAL Management Company, and Eldar Yakhin, Chairman of the Board of Directors of IFK Nurfinance, spoke about the proposals within the framework of the implementation of the Partner Finance Action Plan for the period of the experiment.

Let us recall that the experiment on partner financing started on September 1 in four regions of the country, including Tatarstan.

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