Islamic Business and Finance international summit to be held in Kazan

On 25-26 June, an international event called Islamic Business and Finance Summit will take place in Kazan. The holding is supported by a number of Russian and international business entities, including the Islamic Development Bank.

The summit organising committee’s head Linar Yakupov told a news conference of the upcoming event.

The purpose of the summit is to assemble representatives from the largest foreign business entities in one place. They include the leading banks, and investment and financial institutions from the Middle East. The summit’s participants will have an opportunity to establish international business contacts. Attracting foreign investments is especially relevant for Tatarstan in this respect.

The summit’s attendees will be offered a presentation of the current state and prospects for development in Russia and the Islamic states’s main economy branches. They will be able to examine the practices of real transactions on attracting financing, based on the Islamic finance principles. A separate section is to focus on the current state and prospects for Islamic finance institutions in the world and in Russia. Small and medium business's prospects will be an item in the agenda as well.

One of the issues to be discussed is whether the Islamic financial model could be a viable alternative to the present-day economic systems and if it could oppose the global critical changes.

Company representatives from the UK, France, the Netherlands, Luxembourg, Saudi Arabia, United Arab Emirates, Bahrain, Kuwait, China, Malaysia, Indonesia, Hong Kong, Turkey, Pakistan, Qatar, Kazakhstan, Kyrgyzia, Azerbaijan and Turkmenistan have confirmed their attendance.