The partner finance market will develop in Tatarstan thanks to AAOIFI
The organization of accounting and auditing of Islamic financial institutions is ready to assist in the development of the partner finance market. This was announced at the AAOIFI conference, which is being held for the first time in Kazan, by the chairman of AAOIFI, Sheikh Ibrahim Bin Khalifa Al Khalifa.
The Deputy Prime Minister of the Republic of Tatarstan, the Minister of Economy of the Republic of Tatarstan, Midkhat Shagiakhmetov, together with the Chairman of AAOIFI, Sheikh Ibrahim Bin Khalifa Al Khalifa, met this week with representatives of the banking sector and the IT park, where they presented promising developments – startups, software in financial technologies, agriculture, medicine and industry.
"Our goal is to develop Islamic finance in Russia, especially in Kazan and Tatarstan. We came here to provide all possible support from our side," said the chairman of AAOIFI at a meeting with the President of the Republic, Rustam Minnikhanov.
According to him, AAOIFI expects the appearance of such a product as sukuk on the market of Islamic finance in Tatarstan and Russia.
He noted that today in Tatarstan, measures are being successfully implemented to improve the financial literacy of the population in partnership finance, staff training is underway, and the financial infrastructure is expanding. The next important stage of this work should be the formation of an organized capital market.
Based on the authority of AAOIFI as a leading institution that sets global standards in the field of Islamic finance, accounting and auditing, the conference, held in Kazan for the first time, aims to stimulate the development of a financial system that meets the demands of the time and the needs of the global community.