Moscow Halal Expo 2010 will give a sense of Islamic Business awakening in the heart of Central Asia & Eastern Europe
Farouq Alwyni, director of finance and International banking, Bank Muamalat Indonesia, in February this year headed the delegation of Bank Muamalat Indonesia to Russia. The experts held meetings, practical seminars and opened lectures for the Russian audience.
- Mr Farouq, what do you know about Islam in Russia? What new did you learn about Muslims of Russia after your visit to Moscow and Kazan?
My knowledge about Islam in Russia before I came here was very limited. I only knew about Chechnya and/or thinking about Imam Bukhari in the past. But, after I came back from here, it broadens my horizon. I was impressed and touched by the facts that Muslims here accounted for around 20% of the population. Islam in Russian has a great prospects and Insha Allah could contribute to the spread of da'wah in Eastern Europe as a whole.
- Do you consider Russia prospectful market for Islamic Finance?
Yes. As I mentioned above, Russia has a significant number of Muslim population, it is the market in itself. Secondly, I can feel that there is a new awareness of and commitment in Islam among the Muslims here to get back to Islam as a way of life. Thirdly, after experiencing a number of financial crisis, Russia as a whole will need an Islamic Finance as an alternative to the whole population. It will contribute to the creation of a financial system which will be more fair & ethical, which of course will be needed by Russian whether Muslims or Non-Muslims.
- In your opinion, what are the obstacles for development of Islamic Finance in Russia?
I'm not so sure since I just have a brief visit to Russia. But, I think firstly we need to deal with regulation. Secondly, language may be a barrier, although it may be bridged by the facts that more Russian population now speaks English well. Finally, it maybe the legacy of Soviet mindset as a whole, where the culture of business and service is new, and need to be cultivated further.
- What do you think of establishment business relations with Russian companies?
We are open to that, particularly if there are Russian companies who want to do Business in Indonesia, we can be their contact entity, and vice versa for Indonesian companies that want to do business in Russia. We will explore opportunities particularly in the area of trade finance.
- Do you think Moscow Halal Expo 2010 that will take place in June to be a remarkable event and why?
I think this is an encouraging news to learn about International Halal Expo 2010 in Moscow. This will open the eyes of people internationally about Islam and the Muslims in Russia. This is a da'wah in itself. It will give a sense of Islamic Business awakening in the heart of Central Asia & Eastern Europe. It will inspire other Muslims in other parts of the world also.
- What subjects would be interesting to you in particular to be presented at the Exhibition?
Islamic Banking of course.
Staff reporter
02.04.2010
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