The number of transactions and the total volume of transactions in the field of partner (Islamic) finance in Tatarstan have doubled
This was stated by Roman Amirkhanov, Deputy Minister of Economy of the Republic, Head of the Department of Socio-Economic Monitoring, at the section "Islamic Finance in Tatarstan" of the international forum "KazanDigital Week - 2024".
According to him, work in the field of partner (Islamic) finance in the Republic of Tatarstan has been conducted for more than 15 years, successful experience has been accumulated in the implementation of individual projects based on the principles of Islamic finance. The adoption of Federal Law No. 417 on conducting an experiment on partner finance has significantly increased activity in this market.
"In the first half of 2024, the number of transactions and the total volume of financial transactions in Tatarstan doubled compared to the same period last year," stressed Roman Amirkhanov.
The speaker noted that the prospects for the development of partner finance in Russia are inextricably linked to the creation of a secure and convenient digital infrastructure for operations.
"Fintech can be considered a catalyst for expanding access to financial services. Today, almost everyone has smartphones and this creates favorable conditions for fintech companies working in the field of partner financing," the speaker said. – "The growth in the number of such companies will provide participants in the partner finance market with the opportunity to cooperate and, consequently, the opportunity to expand their range of financial services, offering broader and more affordable financial products and services for the public and businesses."