Linar Yakupov, CEO of IFC Linova, said that the Republic of Tatarstan and Islamic Development Bank to create Tatarstan International Investment Company (TIIC) acting in accordance with principles of the Shari'ah.
Kazan. December,15. Interfax-Volga region. Linar Yakupov, CEO of IFC Linova, said that the Republic of Tatarstan and Islamic Development Bank to create Tatarstan International Investment Company (TIIC) acting in accordance with principles of the Shari'ah.
According to his words company to be created in Kazan with nominal capital of $3 million as Clozed Joint-Stock Company.
“The nominal capital is not very big, but sufficient for the beginning of investment company’s activity. Up to date the investor base has been determined yet”- L.Yakupov noticed.
He also informed that 20% of companies to be belonged to Tatarstan, 20% - to the Islamic Development Bank’s group and 60% will belong to investment groups from Saudi Arabia, Bahrain, United Arab Emirates, Kuwait and Yemen. In future the increase of nominal capital is eventual as the need arises.
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