ROEL Group as an Official Partner of IFN CIS & Russia Forum 2016

Representatives of ROEL Group took part in the largest international forum on Islamic financial services (IFN CIS & Russia Forum) which was held in Moscow on the 15th of March 2016. 23 States, 45 countries across the world: ambassadors, commercial advisers, diplomatic mission attaches from Europe, Asia and Middle East and the largest foreign financial organizations from Saudi Arabia, UAE and Great Britain had a discussion over the development outlook of Islamic financial services at the Russian market and in CIS countries. Islamic banking infrastructure in the Russian Federation was also discussed. 

In the course of discussion of such an urgent issue as the absence of the necessary banking infrastructure Linar Jakupov (President of Islamic business and finance development Fund and ROEL partner) pointed out at the arising interest to this challenge in Russia.  However the country needs the legal framework that would allow Islamic financial services to enter the Russian market. The problem lies in misunderstanding of     Islamic financing principles. Thus the forum participants made their offers about awareness-raising resources and gave some ideas about promotion of the services. 

ROEL accepts effectiveness and high potential of Islamic financial services as a tool to attract the investment into infrastructural projects and to penetrate new markets. To make this financial model work internationally one must design concrete implementing and starting mechanisms. It also should be supported by the government. The overall success of this idea depends upon making balanced and step-by-step solutions


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