The advisor to the Prime Minister of Tatarstan on dealing with Islamic financial institutions has received a diploma from the Advisory Board on Islamic economics and finance within National Rating Agency (NRA).
The advisor to the Prime Minister of Tatarstan on dealing with Islamic financial institutions has received a diploma from the Advisory Board on Islamic economics and finance within National Rating Agency (NRA).
The awarding ceremony of the diploma “For the big personal contribution to the development of Islamic finance industry in Russia in 2015” took place in Gaidar Forum within the expert discussions “Islamic Finance: industry forming issues”. The Forum is an annual intellectual platform – one of the largest annual economics scientific events of the international level in Russia, uniting the theorists and practitioners, the leading international scientists and politicians, the representatives of financial sector and global business elite.
Linar Yakupov – the advisor to the Prime Minister of the Republic of Tatarstan and the president of Islamic Business and Finance development Fund (IBFD Fund) has participated in the Forum as one of the lead experts. He has talked about activities of the Fund and presented the feasibility study summary, which was conducted by the IBFD Fund within Malaysian –Russian consortium, as well as necessary amendments to the legislative framework to launch Islamic Banking and attract Islamic securities, such as sukuk.
For reference Islamic Business and Finance Development Fund (IBFD Fund) is the center of competence in Islamic Business and Finance of Russia and is working actively towards strengthening economic and financial relations between Russia and the countries in the South East Asia region and the Middle East. The Fund cooperates with international, regional and national organizations, research and educational institutions, market players in the following areas: provision of expertise in Islamic business and finance development projects in Russia and the CIS countries; implementation of Islamic financial institutions policies; organization of the leading economic events of Russia and OIC countries, which are meant to review investment and trade opportunities, as well as Islamic financial market securities – “sukuk”; development of educational programs and conduction of courses meant to increase awareness about Islamic banking, Islamic insurance, Islamic financial markets and financial instruments.
National Rating Agency (NRA) – the agency uniting professional analysts and risk-managers. The mission of the agency is not just its self-development but to facilitate the development of rating services in Russia. The NRA company group include: LLC “National Rating Agency” – the organization that assigns the Independent Solvency Ratings to the banks, mortgage and leasing companies, firms, microfinancial organizations, as well as regions of Russia and guarantee funds; LLC “National Rating Agency – derivative rating” is the organization specialized on assigning the Independent Solvency Ratings to investment and managing companies, quality ratings, as well as other projects. The NRA group is working since 2002 and is one of the leading independent rating agencies of Russia. Currently more than 400 legal entities are the clients of NRA on the assigned scores. Over 1000 companies and banks are involved in other informational projects of NRA, whose materials are regularly published in media. The client list include banks, insurance, leasing and managing companies, nonbank credit organizations and the real economy sector companies.
The Gaidar Forum provides a unique intellectual platform and a meeting point for theorists and practitioners, the world leading scientists and politicians and influential representatives of global financial and business elites. Every year the leaders of economic thought, Nobel Prize laureates, top professors of leading global universities (such as Harvard, Stanford and the Massachusetts Institute of Technology) and representatives of Russian political establishment come to Moscow and gather at the Russian Presidential Academy of National Economy and Public Administration. The Forum hosts all those people who can determine the global world order with their advanced achievements in economic science and influence social and economic development of regions and states. In the Russian media the Gaidar Forum has built a solid reputation of "the Russian Davos Forum", as in terms of the status of its participants and experts it is one of the top world economic conferences. As for foreign guests, this Forum provides them with an important source of information on the key trends in Russia’s social and political development and on the state of its business environment and acts as an investment climate barometer. As for domestic experts, participation in this Forum helps them outline perspectives for Russia’s further economic growth and integration into global economy.
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