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At the end of March there was signed an agreement on establishment of the Tatarstan International Investment Company between the Republic of Tatarstan and Muslim countries. Dr. Ahmed Mohamed Ali, President of the Islamic Development Bank, spoke on prospects of Tatarstan and the 2nd International Islamic Business and Finance Summit in an in exclusive interview to Islamic-Finance.ru.

Islamic-Finance (IF): This year we’ll have the 2nd International Islamic Business and finance Summit. Do you think this occasion to be key point to start Islamic finance in Russia in Tatarstan?

Ahmed Mohamed Ali (M.A.): Bismillah, first of all we are really very happy for this growing cooperation between Islamic Development Bank and Tatarstan. This, Alhamdulillah, has resulted in more relationship between businessmen in Tatarstan, businessmen in our member countries. This will strengthen the cooperation between and relationship between Russian Federation and our member countries. So, I’m very happy that the 2ndSummit, Inshallah, will be held in June and we are going to see also more fruits of this newly established joint company. By that time I’m sure a number of projects will e developed and more businessmen will be attracted to do business in Tatarstan.

IF: Do you believe Kazan to be the gateway to Russia for the Muslim world, for example to introduce these Islamic principles of making business and for halal industry to develop halal industry in the region?

M.A.: I think really Tatarstan has great potentiality to be a hub for many investments including halal business. Halal business is the huge industry estimated to be in billions of dollars and Tatarstan being in the middle of the great highways coming, connecting China with Europe, with the Middle East and all our member countries and the Gulf and in Iran. This will really make Tatarstan a great hub for many industries including halal industry and being in the middle other investors will be attracted really to establish business in Tatarstan to benefit from this location and from the market both in East and West.

IF: Thank you so

M.A.: You are very welcome. Thank you very much.

Press-service of Linova-Media