First in Russia and only in Kazan

Opening of Center of partner banking took place on 24th of March, 2016 in Kazan. It is the first banking institution in Russia, which works in accordance with principles of counterpart funding, applied at countries of South-East Asia and Middle East.

The center was solemnly by Tatarstan President Rustam Minnikhanov and First Deputy Chairman of the bank of Russia Alexey Simanovsky. Representatives of Tatarstan Investment Development Agency also attended the ceremony.

Today Islamic financing sector is the most rapidly increasing in the world, everyday it is growing by 15-20%.  Islamic banking is practiced by more than 400 world financial institutions. Statistics of Islamic Development Bank over last 15 years shows the average annual growth rate of 15 per cent of Islamic financial assets.  Total volume of such assets almost reached an important crossroad of 3 billion dollars at the end of 2015. I’d emphasize, Islamic banking became one of the main topics of economic forum “KazanSummit-2016”, held annually by Agency – noted by Head of Tatarstan Investment Development Agency Taliya Minullina.

Tatarstan is selected as a pilot region for project implementation.  Work of center will be oriented at interaction with foreign investors. Partner banking is considered from the position of provision of financial services on basis of OIC countries` traditions.  PAO “Tatfondbank” and OOO “Tatagroprombank” are credit organizations implementing the project in Russia.