Prospects for the development of the Islamic financial sector discussed in Tatarstan
The Ministry of Economy of the Republic of Tatarstan held a meeting with the International Organization for Accounting and Auditing for Islamic Financial Institutions (AAOIFI) via video conference with the participation of Deputy Prime Minister - Minister of Economy of the Republic of Tatarstan Midkhat Shagiakhmetov.
The Republic of Tatarstan demonstrates dynamic development in many areas, including financial services, technology and innovation.
Cooperation with AAOIFI opens up new horizons for the republic in the field of Islamic finance.
The meeting, which was attended by experts in the field of partnership financing, representatives of the Central Bank of the Russian Federation, the Association of Banks of Russia and the Investment Development Agency of Tatarstan, was devoted to discussing the prospects for cooperation.
It should be recalled that at the meeting of the Head of the Republic of Tatarstan, R. N. Minnikhanov, and Chairman of the Board of Trustees of AYOFI Ibrahim bin Khalifa in Bahrain, an agreement was reached to hold a conference on Islamic banking and finance AAOIFI during the events of the International Economic Forum "Russia — the Islamic World: KazanForum" in 2025.
Holding such an important event will be an important signal for the international community in the development of partner financing in Russia.
"I am sure that together we will hold the AAOIFI visiting conference in Kazan at a high level. The Republic of Tatarstan is always glad to welcome partners from AAOIFI and is ready for joint initiatives that contribute to the development of the Islamic economy," stressed Midkhat Shagiakhmetov.
They also discussed an action plan for cooperation in the development of partner financing.
For effective cooperation and development of Islamic finance, the Ministry of Economy of the Republic of Tatarstan, together with AAOIFI, has developed a roadmap in key areas.