On 24, March 2011 an International Conference: "Sukuk – a new instrument for regional infrastructure development" will be held in Kazan, Russia. The conference will be a sub event in the run-up to the annual International Islamic Business and Finance Summit KAZANSUMMIT 2011.
n 24, March 2011 an International Conference: "Sukuk – a new instrument for regional infrastructure development" will be held in Kazan, Russia. SUKUK CONFERENCE is under the umbrella of KAZANSUMMIT 2011 the annual International Islamic Business and Finance Summit .
The event is organized by the Islamic Business and Finance Development Foundation (IBFD Foundation) and supported by administration of the President of the Republic of Tatarstan. Strategic partners of the conference are Amanah Raya Berhad Investment Bank, Kuwait Finance House (Malaysia) and IFC Linova (Russia). The main sponsors of the event are Amanah Raya Berhad Financial Group and OJSC Ak Bars Bank.
The conference program will focus on the following agendas:
• Development of sukuk markets in Russia;
• Sukuk as an alternative source of funding
• Legal adjustments for sukuk issuance;
• Onshore vs. offshore sukuk issuance: (examining internal factors which affect sukuk issuance);
• Legal and Tax regulations for offshore and onshore sukuk issuance;
• Optimal structuring models of sukuk issuance;
• Cross border sukuk issuance.
The aim of the conference is to represent Islamic bonds - sukuk as an instrument for regional infrastructure development, feasibility study of implementation and adjustment of sukuk mechanisms.
SUKUK CONFERENCE will bring together representatives of the Government of the Russian Federation and the Republic of Tatarstan, Representatives of Russian and foreign financial institutions, CIS Investment and Securities Regulators, Investment banks and funds.
On the way of developing and modernization of Russian economy, President and the Government of the Russian Federation stated strategic objectives related to the attraction of overseas investments in various sectors of the economy of the country.
First Deputy Prime Minister of the Russian Federation, Igor Shuvalov, at the Davos International Economic Forum (Switzerland) noted that Kazan is a positive example of how one of Russia’s multi-ethnic and multi-confessional regions can be a region attractive for foreign investments.
The Government of the Republic of Tatarstan, exploring the ways to attract foreign investment to the region, is actively developing business relationships with the advanced Muslim countries in the Middle East and Southeast Asia. Memorandum of understanding to prepare the first issuance of sovereign Islamic Sukuk was signed during official visit of President of the Republic of Tatarstan in Malaysia on 14 December 2010 in Kuala Lumpur between the Government of the Republic of Tatarstan, Amanah Raya Investment Bank (Malaysia), Kuwait Finance House (Malaysia) and IFC Linova (Russia).
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