The first interregional financial transaction on Sharia norms was conducted in Russia

On the STATUS-INVEST investment platform, the Sheikh Zayed Foundation for Entrepreneurship and Innovation Support (Chechen Republic) provided financing in the amount of 40 million rubles for the digital mudaraba product by Amal PO (Republic of Tatarstan). The initiator and organizer of the transaction was PO "AS SALAM" (Republic of Tatarstan).

This transaction was the first and fundamental for the formation of a modern partner (Islamic) capital market in Russia using digital tools. At the same time, the transaction was of an interregional nature – companies from two subjects of the Russian Federation, in which an experiment on partner financing is taking place (the Chechen Republic and the Republic of Tatarstan), participated in the role of investor and recipient of investments.

The Islamic financial product mudaraba is a financing agreement under which the investor provides the borrower with the amount of financing and receives as income a share of the profit generated by the project, which the borrower implements at the expense of the funds raised.

The clients-investors of the platform can be individuals, individual entrepreneurs and companies of any organizational and legal form - all interested, both those who share the principles of partner financing, and those who are just getting acquainted with a new product for the Russian market.

Recipients of financing for projects requiring investment investments may be Russian companies operating in the territory of the Russian Federation whose activities comply with Sharia law.

Status-Invest, together with AS SALAM, is developing five products in the field of Islamic banking, including an analogue of factoring operations, project financing and financing of working capital of borrowers, etc. And taking into account the fact that it is legally allowed to attract financing through the placement (in certain cases) of bonds, this may be one of the directions of development and an integral part of the emerging partner capital market in the context of the issue of Islamic sukuk bonds.

It is important to emphasize that the deal lays the foundation and creates prerequisites for expanding opportunities to attract investment to Russia.