The issue of development and regulation of partnership financing was discussed at KBSU

June 5, 2024 at the College of Information Technologies and Economics of Kabardino-Balkarian State University named after Kh.M. Berbekov held an All-Russian seminar with international participation “The economic essence and legal basis of the regime for partner financing activities in Russia and the experience of foreign countries.” The organizer and moderator of the meeting was the Chairman of the Cycle Commission for Accounting, Economics and Hotel Business, teacher at the Research College of Information Technologies and Economics of Kabardino-Balkarian University Marina Tekueva. The purpose of the seminar is to inform the general public about the implementation of the “partnership financing” sector in Russia.

The seminar was attended by representatives of various institutions, including universities and businesses, both from Russia (Tatarstan, the Chechen Republic, Dagestan, Bashkortostan) and from abroad (Indonesia), which made it possible to discuss the principles of Islamic finance, its prospects in Russia and in the world . Participants shared their experience in implementing Islamic finance in various regions, discussed the risks and opportunities of using Islamic banking, as well as current problems that arise when using it in Russia.

Marina Tekueva noted that under Western sanctions, the countries of the Islamic world could become key economic partners for Russia.

Currently, four regions are pilot projects for the introduction of Islamic banking. These are Tatarstan, the Chechen Republic, Dagestan and Bashkortostan. As you know, the experiment is designed for two years. Depending on its results, the government, in agreement with the Central Bank, will be able to expand the geography of Islamic banking, as well as extend the experimental regime. During the experiment, practical solutions should be created, the mechanism of operation of partnership financing should be tested, and it will become clear what other laws and regulations are needed for the successful functioning of Islamic banking,

– explained Marina Tekueva.

At the end of the meeting, the participants noted the relevance and prospects of developing a partnership financing regime not only in individual regions, but throughout the country as a whole. The need to further improve legislation on this topic was also expressed.