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Recent Comments


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.


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.


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.

KazanSummit 2014 has completed the work


Main business area of Islamic countries and Russian Federation cooperation has become global event, where most important issues of international cooperation have been discussed.
KazanSummit 2014 has completed the work
UAE Minister of Economy Sultan Bin Saeed Al Mansoori, Minister for EU affairs in Turkey and the Head of Turkish delegation for negotiations with EU Mevlut Chavusoglu, Chairman of the Regional Representatives Council of Indonesia Republic Irman Gusman, deputy of minister of economic affairs of State of Qatar Sultan Al Khater, ambassador, director of economic affairs of OIC Ahmed Al Khaddad, Vice President of the Federation Council of the Federal Assembly of the Russian Federation Ilyas Umakhanov, ambassador-at-large of Ministry of Foreign Affairs of Russian Federation Konstantin Shuvalov were honorable guests of VI International economic summit of Russia and OIC country-members.

Ambassadors from Malaysia, Tunisia, Saudi Arabia, Cuba, Indonesia, Algeria, Iraq, Egypt, Sudan, delegations from State of Qatar, UAE, Afghanistan, Turkey, representatives of Bahrein, Jordan, Thailand, Iran, Kazakhstan, Kyrgyzstan and Russian regions: Uliyanovsk, Kaliningrad, Orenburg and Kamchatka region, The Altai territory, Mari El, Chechnya and Mordovia republics has participated at KazanSummit 2014. 150 representatives of foreign and Russian mass-media had highlighted this event.

First day of summit started by business breakfast with The President of Tatarstan Republic, Rustam Minnikhanov, where participants had discussed the portrait of Russian regions and integration of sub-federal regions’ economy to world system. Following discussions has continued at main event of summit, Strategic forum, where food security was key subject. Issues of economic cooperation expanding at food security and development of integration process between Russia and Muslim countries have been denoted. Forum was the area of priority of economic interactions between Russian regions and OIC countries had been confirmed.

During first day bilateral meetings of the President of Tatarstan Republic, Rustam Minnikhanov with Minister of Economic Affairs of UAE, Minister of EU affairs in Turkey Mevlut Chavusoglu, head of foreign countries’ diplomatic missions and management of X5 Retail Group has taken place. Current economic situation of Russian Federation and Tatarstan Republic, namely the development Islamic finance system, investment activity of republic and cooperation with Haier has discussed during the meeting of the President with representatives of Russian and foreign mass-media.

Business forum “Tatarstan-UAE”, which had taken place at KazanSummit, was intended to widen economic interaction and trade cooperation between Tatarstan Republic and UAE. Owing to forum entrepreneurs and businessman of UAE and Tatarstan had acquainted with best investment projects of UAE and discussed the possibility of collaborative work. Second meeting of Tatarstan Investment Club had been held, where investors denoted issues and get answer from subject ministries. Frist day of KazanSummit 2014 had accomplished with gala dinner on behalf of authorities of Tatarstan Republic with participants of Prime Minister, Ildar Khalikov.

Several events had been held at second day: First Kazan Urban Forum, International Trade Forum, Conference of Islamic economy and finances, sessions of best investment promotion practices and roundtable of promotion of integrated brand of the region.

Urban forum was area for discussion of questions of present interest of urban growth. There were talk about the realization of International investment technopolis “SMART City Kazan” and satellite city Innopolis, rearrangement of industrial zones, development of Kazan agglomeration, creation of park belts and embankments’ improvement.

At Sessions of best investment promotion practices, organized in cooperation with World Association of Investment Promotion Agencies (WAIPA), the executive director of WAIPA has reported about region and countries target-oriented promotion, information support of investment prospects. Representatives from Mari El, Altai, Kalinigrad and Ulianovsk had shared with experience of investment attraction.

Multi-sided discussions occurred during meeting of parliamentarians of Russia and OIC country-members, with participation of Federation Council of Russia. The Key issue of KazanSummit, the issue of food security, strengthening of federal centers and parliamentarians’ role, international laws’ codification, development of inter-confessional relations and international interaction had been touched on. Ilyas Umakhanov promised to include to agenda these issues.

The opinion of need of Russian legislation changing had been given at Conference of Islamic economy and finances. Al these are required to attract Islamic banking instruments, rise interest at Islamic banking development and most demanded products. International Trade Forum touched upon issues of international cooperation at trading, investment promotion and business interaction.

Roundtable of promotion of integrated brand of the region was the area for discussions of touristic brand creation, branding at economic and social point of view and will it be demanded by population.

Programme of VI International economic Summit of Russia and OIC country-members – KazanSummit 2014 - had accomplished with excursion to national festival Sabantuy, which had taken place 7th June, in Laishevk district.

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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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