All-Russian conference "Islamic Finance in the Russian realities" continues its work

All-Russian conference «Islamic Finance in the Russian realities» continues its work
Rinat Gabbasov - senior lecturer of the Department of «Islamic Economics and management», the Russian Islamic University

All-Russian conference «Islamic Finance in the Russian realities» continues its work, which takes place in Makhachkala, Dagestan. The first day of the event took place in a crowded hall of the Dagestan State University, the students and teachers of the DSU, as well as other universities have shown a great interest in the conference, asked questions and participated in the discussion.

Even were such prominent experts on Islamic finance, such as:

Independent expert on Islamic finance Zhuravlev A. ("The current situation of Islamic financial institutions in the world");

Director of the Department of Economics of the Council of Muftis of Russia Kalimullina M. ("Islamic finance projects implemented in Russia: the volume, scope, dynamics of development");

Head. Chair of "Taxes and taxation", Dagestan State Institute of National Economy A. Akhmedov ("Corporate Social Responsibility as an integral part of Islamic Finance");

The General Director of the TNV "LyaRiba Finance" Aliskerov M. "Factors affecting the development of Islamic finance in the region with a predominantly Muslim population";

MSC in Islamic Finance Damascus state University Abdulatipov A. («The international experience of formation of the Islamic banks and the possibility of its realization in Russia»);

Senior Lecturer, Department of Islamic Economics and Management of RIU Gabbassov R. ("Place and role of Islamic business ethics in the business of contemporary Muslims");

Head. Department of Islamic Economics and Management Vahitov G. ("Training in RIU personnel for the development of Islamic economics in Russia").

The text of the report of Galim Vahitov 

All-Russian conference «Islamic Finance in the Russian realities» continues its work


The functioning of the Russian enterprises and organizations, aimed at the implementation in its activities the principles of Islamic economy, requires a number of conditions. Among them not only the problem of the availability of human resources for the functioning of enterprises, but also the creation of favorable external conditions in the form of public opinion, the opportunities to establish commercial links with other enterprises, working in conformity with the principles of Islam, the market access opportunities of the Islamic world and a number of others.

Russian enterprises and organizations, aimed at the implementation in its activities the principles of Islamic, in modern conditions require from the employees of the knowledge and skills of work in conditions of the Russian economy, the understanding of mechanisms of development of the world economy, knowledge of the Russian legislation.

Besides professionals need knowledge of Islamic and international law, the ability to work at their junction.

It also requires knowledge of English or Arabic, because we must constantly analyze the market, to adopt the best practices of Islamic organizations in the world, participating in internships, conferences, studying foreign standards and regulations.

The preparation of such a specialist is possible in two ways: as part of the training of economists, bachelors, as well as in-service training of persons who already have a degree in economics.

All-Russian conference «Islamic Finance in the Russian realities» continues its work


We expand the activities of RIU according to the first variant. In RIO bachelor training is realized in a direction "Economy" on the profile of "World Economy". In the curriculum in addition to a set of disciplines, general for profile of "World Economy" in other universities, provided the study subjects of two parts: an Islamic economy and the economy of the Islamic world, as well as associated with the study of religion.

The first block consists of the following disciplines:

1. Fundamentals of Islamic Economics
2. Commercial Law in Islam
3. Islamic Banking
4. Islamic insurance
5. Islamic Financial Markets and Instruments
6. Regulation of the activities of Islamic financial institutions
7. State regulation of the economy in the countries of the Islamic world
8. Corporate governance in Islamic financial institutions
9. The history of entrepreneurship of Muslim peoples of Russia
10. The world market of halal industry
11. The economy of the Islamic World
In the block of disciplines associated with Islam, including the following:
1. The Islamic creed (Aquidah)
2. Foundations of morality (ahlyak)
3. Islamic worship (ibadah)
4. Basics of Islamic law (fiqh)
5. Reading and memorizing the Quran
6. The story of the Prophet (peace be upon him)

In terms of the study of foreign languages among students of all four courses of direction "Economy" provide for the study of English. The first two courses - a general course, and the third and fourth year - business English.

Also on the 3rd and 4th year students are given the general course of the Arabic language.

The study of the above-mentioned disciplines are incapable of Sharia expertise and replace in Islamic financial institutions in positions related to its implementation (Shariah advisers). It is possible to find a job in positions related to the expertise of Sharia after completion of additional training courses or futher training in the master's degree in Islamic economics in the Islamic world.

At the present time students of RIU are trained in Islamic economy in countries such as Indonesia (bachelor's degree), Malaysia (bachelor and master).

Work in the organization, focused its activities on the implementation of Islamic principles, requires special Islamic business ethics, to enable them to find common language with representatives of the Islamic community of business and clients. In connection with the fact, that at the present time in the Islamic financial institutions clients appear, who are not Muslims, specialists must possess skills of communication with all groups of clients and be able to explain their position to the representatives of other religions.

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