Homepage | About us | Advertise | Partners | Feedback Contacts | Русская версия Русский
Islamic-Finance.ru - Information and Analytics on Islamic Business and Finance in Russia Islamic-Finance.ru - Information and Analytics on Islamic Business and Finance in Russia Islamic-Finance.ru - Information and Analytics on Islamic Business and Finance in Russia

Latest News

07.02.2017

GCC VAT a test for Islamic Finance- Fitch


30.01.2017

Goldmoney adds Shariah-compliant methods to boost investment from Islamic markets


31.03.2016

Path Solutions joins CIBAFI, the world renown General Council for Islamic Banks and Financial Institutions


28.03.2016

"Kazakhstan Islamic Finance 2016: a new frontier for Islamic finance" country report


19.02.2016

Azerbaijan looks to new Islamic bank as sector rules progress


15.01.2016

Linar Yakupov received an award for his contribution to the development of Islamic finance industry in Russia


14.12.2015

The 2nd International winter school of Islamic law and economics has started in Kazan


09.12.2015

Russian financial experts are exploring options to launch Islamic Banking


IBFD Fund

Recent Comments

22.06.2016

Islamic banking will be most relevant to SME sector: Zafar Sareshwala

Interview with director and head of Islamic Corporation for Development's (ICD) India operations.

25.11.2015

Islamic Develop Bank calls for new Islamic microfinance structures

As the Shariah-compliant Islamic finance sector booms in the GCC region, the President of the Islamic Development Bank (IDB) Group, Dr. Ahmad Mohamed Ali, asked experts in the field to develop new Islamic microfinance structures.

14.09.2015

Dubai Silicon Oasis Authority and Thomson Reuters Reveal Key Findings of Digital Islamic Economy Report 2015

Dubai Silicon Oasis Authority (DSOA) and Thomson Reuters, with support from the Dubai Islamic Economy Development Centre (DIEDC) released the 'Digital Islamic Economy Report' for 2015, in collaboration with DinarStandard.

Iskander Muflikhanov about Future Development of the TIIC

20.04.2010

The Tatarstan International Investment Company is the first joint company between Russia and the Islamic Development Bank (the IsDB) in a long history of mutual relations. The company was officially registered in Tatarstan. The shareholders’ council consists of the largest investment and finance institutes of the Middle East and South East Asia (Yemen, Kuwait, Malaysia, and Saudi Arabia), as well as the Government of Tatarstan.
Iskander Muflikhanov about Future Development of the TIIC
The Tatarstan International Investment Company is the first joint company between Russia and the Islamic Development Bank (the IsDB) in a long history of mutual relations. The company was officially registered in Tatarstan. The shareholders’ council consists of the largest investment and finance institutes of the Middle East and South East Asia (Yemen, Kuwait, Malaysia, and Saudi Arabia), as well as the Government of Tatarstan.

Iskander Muflikhanov:

- I would say, the project was organized in contempt of all rules. Normally, the IsDB establishes such joint companies with member states of the Organisation of the Islamic Conference (the OIC), while Russia is just an observer state.

The TIIC activity does not focus on religion; all its projects are either industrial or commercial, including already approved ones (e.g construction of the largest regional international business centre with exhibition areas, conference rooms, etc). One of the TIIC projects will be the establishment of the Halal products centre, which will help the capital of Tatarstan to become Russian headquarters of Halal industry and logistics. All the products, including high quality imported goods produced in accordance with Sharia principles, will be transported through Kazan. There are great possibilities in this business trend because of the growing market demand. About 25 million Russians are Muslims, and they are ready to consume Halal products.

Generally speaking, we are planning to initiate a lot of joint projects. It is an expert board of company shareholders that is going to develop these projects. The TIIC is to become a kind of an engine for business initiatives, and to find investors.

Attraction of investments will be discussed during the Second Summit of Islamic Business and Finance, which is going to take place in Kazan in June.

Background Information:

The first International Summit of Islamic Business and Finance was organized in June, 2009 by the IFC “Linova”.

The IFC “Linova” was established in Kazan in 2006. Its main activity is investment banking and financial consulting in compliance with Sharia principles. Foundation of Russian Centre of Islamic Economy and Finance at Russian Islamic University, and creation and publication of the “Guide to Islamic finance in Russia” are among the most important achievements of the company.

Iskander Muflikhanov:

- This Summit will be the second one. Our last year’s experience was quite successful, and the event proved its relevance. The organizational scheme itself is unique. Usually, such events are organized at the governmental expense, while in this case we can observe private and governmental partnership, which are presented by the investment company Linova on the one side, and the Government of Tatarstan on the other. The Summit will be supervised by the Ministry of Industry and Trade of the Republic of Tatarstan.
During the Summit future plans and initial results of the TIIC are going to be announced. The shareholders have already begun working through the main questions, and they are ready to start several infrastructure projects.

A sign of respect from the Arabian side was a visit of Dr Ahmed Muhammad Ali, Islamic Development Bank group president. In spite of his respectable age, Dr. Ahmed Muhammad Ali arrived in Kazan in order to participate in the official ceremony of the company establishment.

Rustam Minnikhanov signed an agreement setting up the TIIC on his first working day as President of Tatarstan.

Islamic-Finance.ru based on materials of Tatcenter

Latest News

Editor's Column

Follow ISLAMIC-FINANCE on Twitter

Analytics

Malaysia's fast-growing Islamic finance sector benefits not only the Muslim world but also non-Muslim countries, said former Prime Minister Tun Abdullah Ahmad Badawi.

News in RSS format

Islamic-Finance.RU in RSS format
© IBFD Fund, 2009-2017. Developed by Linova-MEDIA. Хостинг от uCoz. Design by WebRT