RUSSIA - EVENTS - Islamic Finance: Prospects for Development in Russia - December 10, 2010

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.


The Ritz-Carlton Moscow (Tverskaya, 3)

PROGRAM:
9:00 - 9:30;   Registration.
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.
• Business cooperation between Russia and Arab countries.
• Prospects for the use of Islamic financial instruments by Russian banks.

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

• 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.
• 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. Islamic sukuk
5. project finance, sukuk, leasing, insurance, asset management

14:00 - 14:20 Coffee Break
14:20 - 16:00 Session 3. Panel discussion: Practical experience of implementing and applying the methods of Islamic finance in Russia. Cases from the experts.

• Islamic Finance: Prospects for Russia.
• Implementation of Islamic finance in emerging markets.
• Problems of developing good practices for Islamic financial institutions.

16:00 Closing of the conference. Banquet.
Payment:15 000 rubles + VAT

Source: http://www.themoscowtimes.com/conferences/eng/event/409637.html