Today, a conference on "Development of Islamic finance and adaptation of its mechanisms in modern realities" was held at KFU IUEF

Today, a conference on "Development of Islamic finance and adaptation of its mechanisms in modern realities" was held at KFU IUEF

Among the participants were both invited guests and teachers and students of our Kazan Federal University.

One of the speakers was Tashtamirov Magomed Ruslanovich, Candidate of Economic Sciences, Director of the Institute of Economics and Finance of Chechen State University named after A.A.Kadyrov, acting head of the Department of Finance, Credit and Antimonopoly Regulation.

He noted that Islamic banking is not just an alternative form of financing, but also a special philosophy and approach to business practice. It is based on the principles of Islam, including the prohibition of interest-bearing transactions, entering into risk-return partnerships and supporting ethical and social projects.

Answering the audience's question "What is Islamic banking in Russia lacking: demand or specialists?", Tashtamirov M.R. answered that "demand is not as bad as specialists".

In general, the speaker expressed confidence in the potential of the Islamic financial system and its ability to adapt and succeed in modern conditions.