Educational Course "Islamic finance"

A short-term training course on “Islamic finance” of 72 academic hours' duration applies to representatives of Russian business-community, who are interested in such sphere of world market as Islamic finance, which nowadays spread not only in the East, but also in the West and other regions.

Due to numerous statements by foreign and Russian organizations about creation for the coming years in Russia Islamic banks, insurance and investment companies as well as due to statements by government regarding the willingness to make necessary changes in the law, so the interest to this financial sector among Russian business-community has significantly increased. The nearest neighbor of Russia Kazakhstan in February 2009 has already passed a law providing the conditions to perform financial operations by Islamic banks.

Taking into account the needs of business-community to get the necessary qualification in this sphere of financing , the Department of economic programs of the Russian Mufties Council jointly with the Centre of Arabic research of Moscow International High Business School has developed a program of short-term training using foreign experience.

The training course consists of 4 blocks, devoted to the fundamentals of Islamic law and business ethics as a source of Islamic finance, to the principles of Islamic financing, to the experience of different countries in the sphere of Islamic finance and also to the opportunities of realization of Islamic financing in the Russian legal framework.

The first intake of students on this course was held in October 2009. During the course lectures were read by Russian and foreign experts in the field of the theory and practice of Islamic economy and finance.

Among the lecturers were L. R. Syukiyaynen, professor of GU-HSE, the first Shariah advisor in Russia who got a certificate of AAOIFI (Association of Accounting and Audit Committee of Islamic Financial Institutions, Bahrain), General Director of the Fund “Zakat” DUM RT Bulat khazrat Mulyukov , Kh. R. Sitdekov, the lecturer of Moscow Islamic College, R. I. Bekkin, professor of MGIMO, the experts A. Y. Zhuravlev, A. A. Kazakov, the director of the Department of structured and syndicated lending of Gazprombank, L.G. Yakupov, the General Director of IFK “Linova” , the experts in the field of Russian and international law Y. Tukatrov and R. R. Vakhitov and others.

Especially to hold seminars for students of this course foreign experts came to Moscow from London and Malaysia: the Executive director of the Academy of Shariah research in Islamic finance of Malaysia Dr. Akram Laldin, the director of the Department of Islamic banking and insurance of the Central Bank of Malaysia Akhmad Khizzad Bakharuddin, the director of department of VTB-Capital of North Africa and middle East Masrur Haq, the International expert in the field of Islamic finance, the Partner of Norton Rose Aziza Atta.

At the end of the course students are invited to speak to investors with their projects on Islamic finance in Russia.

The second course started in February 2010. Among foreign experts are expected to arrive representatives of research organizations in Islamic finance and Islamic banks from Indonesia, Malaysia, Bahrain. At the end of the course students will receive a certificate of state standard.

Days of classes: Thursdays from 18:30 to 21:30.

Contacts:

129090, Moscow, Vipolzov lane., 7.

Tel.: 8 (495) 6490463 , e-mail: muslimeco@gmail.com

109147, Moscow, Marxistskaya st., 34, korp.7, "Marxistskaya" metro station

Tel: (495) 921-41-80 , 8 (926) 558 71 46 , e-mail: arabcenter@mirbis.ru,

Contact person: Alexander Babaev

04.03.2010