The guarantee product "Daman" was launched in Tatarstan as part of partner financing

As part of the partner financing program, Daman launched a preferential guarantee product in Tatarstan. The product is designed by the Guarantee Fund of the Republic in cooperation with the Russian Islamic University with the support of the Ministry of Economy of the Republic of Tatarstan.

The Guarantee Fund of the Republic of Tatarstan, subordinated to the Ministry of Economy of the Republic of Tatarstan, together with the Russian Islamic University, has developed a guarantee product "DAMAN", corresponding to the canons of Islamic law and acting on the basis of the official decision of the Ulema Council of the Spiritual Administration of Muslims of the Republic of Tatarstan dated 02/14/2024 No. 72 on the permissibility of a new financial product for providing guarantees.

The maximum amount of the guarantee for the product is 50 million rubles, the amount of the guarantee is up to 50% of the loan amount. 

Thanks to the Daman product, entrepreneurs of the Republic of Tatarstan who adhere to the canons of Islamic law will be able to benefit from financial support in accordance with Sharia law. 

It should be noted that among the regional guarantee organizations of 4 pilot Russian regions participating in the experiment on the implementation of partner financing projects, the Guarantee Fund of the Republic of Tatarstan was the first to be included in the register of participants in the experiment to establish special regulation in order to create the necessary conditions for the implementation of partner financing activities.

Tatarstan entrepreneurs can apply, check their business for compliance with the conditions for obtaining warranty support and learn more about preferential programs on the website of the Guarantee Fund of the Republic of Tatarstan, by phone.: +7(843)293-16-94, +7(903)061-40-18, and also by contacting the Foundation at the address: Kazan, Moskovskaya str., 55.

It should be noted that the support of domestic entrepreneurs in the Republic of Tatarstan is implemented by the My Business Center, subordinate to the Ministry of Economy of the Republic of Tatarstan, within the framework of the national project "Small and Medium-sized Entrepreneurship and support for individual entrepreneurial initiative", which was initiated by the President of the Russian Federation Vladimir Putin.

For reference: On August 04, 2023, Federal Law No. 417 – FZ "On Conducting an experiment to establish special regulation in order to create the necessary conditions for the implementation of partner financing activities in Certain Subjects of the Russian Federation and on Amendments to Certain Legislative Acts of the Russian Federation" entered into force, according to which the Republic of Tatarstan became one of the pilot regions of the Russian Federation for the implementation of partner financing projects. Within the framework of this law, it is provided for the issuance of guarantees for third parties (in accordance with paragraph 5, paragraph 1, Article 2 of the Federal Law).