Islamic Finance

For the second consecutive year, The Moscow Times is organizing the international conference "Islamic Finance: Prospects for Development in Russia." The event's organizers aim to draw public attention to the topic of Islamic finance and talk about the potential of applying Islamic banking and financial products in Russia, as well as problems such as an underdeveloped legal framework and the discrepancies between Russian and Sharia law.

The event will be attended by representatives of state bodies of Russia and foreign countries, businesses, and Russian and Islamic financial institutions.

Conference participants will discuss the possibility of adapting Russian legislation to implement Islamic finance methods in Russia, share their experience of applying Islamic banking principles elsewhere in the world, and talk about the results of their interaction with Islamic financial institutions.

Address: Ararat Park Hyatt Moscow (Neglinnaya, 4)

PROGRAM:

9:00 - 9:30 Registration. Coffee

9:30 - 11:30

Session 1. Plenary session. Conducting Islamic business in Russia and abroad: results of 2010 and prospects.

• Prospects for the adaptation of Russian legislation and the feasibility of Islamic finance methods in Russia.
• Opportunities for non-Islamic countries to establish Islamic fund and investment structures

• Prospects for the use of Islamic financial instruments by Russian banks.
•The developing world and problems of global financial reform

Oleg Preksin. Vice-President of the Association of Russian Banks.

• Business cooperation between Russia and Arab countries.

Tatyana Gvilava, Director of the Russian-Arabian Council

Invited to speak:
Abdul-Wahed Niyazov, President of the Islamic Cultural Center
Mufti Sheikh Ravil Gainutdin, chairman of the Russian Mufti Council, Chairman of the Spiritual Administration of Muslims of European Russia
Alexander Torshin, Deputy Chairman, Federation Council
Stanislav Voskresenskiy, the deputy Minister of Economic Development
Alexey Chernov, Deputy Director of the international economic and financial relations, Bank of Russia

Zaid Maleh, Global Banking, VTB Capital

11:30 - 11:50 Coffee Break

11:50 - 14:00

Session 2. Legal aspects of Islamic financial institutions in Russia: the requirements of Shariah and Russian standards

Moderator: Rustam Vakhitov, senior manager of international taxation group, Pepeliaev

• The role of foreign and international organizations in the development of Islamic finance in Russia.
• Fundamentals of Islamic finance and economic models.
• The problem of adhering to Sharia principles in the activities of financial institutions in Russia, demand for Islamic financial products and institutions in Russia.

Irina Yarygina, professor, chair of the World Economy, International Banking and Finance, the Finance Academy

• Taxation of Islamic finance in Russia.
• The Russian legal framework and Islamic financial instruments:
1. operation of partnerships, using musharaka and mudaraba contracts as an example.
2. retail, investment and private banking
3. purchases and sales using murabaha contracts as an example
4. project finance, sukuk, leasing, insurance, asset management

Alexander Kazakov, Department of Structured & Syndicated Finance, Gazprombank

Invited to speak:
Tatiana Gvilava, director of the Russian-Arab Business Council
Oleg Ivanov, vice president of the Association of Regional Banks of Russia
Rushan Hazrat Abbyasov, Head of International Department, Russian Mufti Council
Madina Kalimullina, head of economic programs, Russian Mufti Council
Denis Parlikov, senior consultant on financial markets and legislation, Department of Corporate Management

14:00 - 14:20 Coffee Break
14:20 - 16:00

Payment: 15 000 rubles + VAT

Regarding conference agenda please contact Olga Moiseeva or Alexey Otradnov.

Regarding sponsorship opportunitites please contact  Olga Makarova or Mikhail Levikov.

Regarding information support and registration please contact Elena Artemieva.

Telephone: 7 495 234 3223