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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


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Russian financial experts are exploring options to launch Islamic Banking


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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.

The opening of first Halal Industrial Park in Russia

22.11.2010

Halal Industrial Park “Baltach” (HIP “Baltach”) was officially launched in Tatarstan on November 19. Halal Industrial Park “Baltach” is the first project for representatives of small and medium businesses, which involve in the halal industrial industry or intend to set up halal business. The main goal of the project is advanced processing of agricultural products, grown by backyards, farm enterprises, as well as arrangement of conditions for representatives of small and medium businesses for production of agricultural products.
The opening of first Halal Industrial Park in Russia
Halal Industrial Park "Baltach” (HIP "Baltach”) was officially launched in Tatarstan on November 19. Halal Industrial Park "Baltach” is the first project for representatives of small and medium businesses, which involve in the halal industrial industry or intend to set up halal business. The main goal of the project is advanced processing of agricultural products, grown by backyards, farm enterprises, as well as arrangement of conditions for representatives of small and medium businesses for production of agricultural products.

The main advantage of Halal Industrial Park "Baltach” consists in cost optimization for representatives of small and medium businesses. In order to let producers – residents concentrate on development of their own business. HIP "Baltach” will provide its residents with outsourcing services: realization of finished products, consulting, administrative support, security service, engineering, logistic, transport, accounting and legal services. Consequently due to economy of scale entrepreneurs have a real opportunity to minimize costs and obtain high labour capacity and quality of products.

All the goods, turned out in Halal Industrial Park will be realized through Kazan Hahal Hub, that provide Shariat-compliant movement of the goods from producer to consumer.

Initiator of the project – Islamic Business and Finance Development Foundation. IFC "Linova” with the assistance of foreign and Russian business structures act as an implementator and investor of the project. Amanah Raya Berhad operates as main investor of this project. According to expert estimates total investment volume for HIP "Baltach” will compose about 150 million rubles, payback period will be 10 – 15 years. Financing of project will be oriented to construction of industrial and office premises, and premises for purchase of equipment. Economic model of HIP will guarantee benefit for residents and investors who will receive acceptable returns on investment.

Management company NHIDC is created To control assets and activity of HIP "Baltach”. The activity of NHIDC will be based on Islamic principles (Murabaha, Ijara, Musharaka, Mudaraba, Istisna), attracting investments for its activity will be also based on Islamic principles (Mudaraba, Wakala).

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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.

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