The trip of Dr. Ahmed Mohammed Ali Al-Madani to Moscow has been organized within the framework of the visit of the Islamic Development bank (IDB) head to the VII International Economic summit of Russia and OIC countries – KazanSummit 2015.
Ahmed Mohammed Ali Al-Madani came for the visit with the head of Russian Central bank Elvira Nabiullina, being accompanied by the President of the Republic of Tatarstan Rustam Minnikhanov.
Elvira Nabiullina expressed special gratitude to Rustam Minnikhanov for having brought to the Central Bank such an important person as the president of the IDB, the press office of the President of the Republic of Tatarstan reports. Today, Russia is very interested in the principles of the work of Islamic banking, admitted Elvira Nabiullina, and one of the tasks – to understand how these principles can be adapted to the Russian financial system.
During the meeting, Ahmed Mohammed Ali Al-Madani told about the history of the IDB and the principles of its operation. He noted that today Islamic banking is represented even in countries, where there is no Islam, for instance, in China. According to the President of the IDB, Islamic banking appeared to be more resistant to crises that resulted in fewer losses during the economic crisis compared to other banking systems.
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