Partner Banking Center Opened in Kazan

Kazan, Russia, March 27, 2016 --(PR.com)-- Experts from Kazan University have been involved in the process of establishing this entity since day one. First talks happened in early 2015. Partner banking is an adapted version of Islamic banking with high-risk deals and interest prohibited.

Tatarstan is a test ground for new financial instruments and cooperation between Russian and the global Muslim community. Rector Ilshat Gafurov became one of the first clients of the Center. Today he also made a report to the President and Central Bank representatives on the prospects of Islamic banking and education in Islamic finance in Russia.

He said, in particular, "We suggest to intoduce elective courses in partner banking and Islamic law for bachelor and master students. Today together with UNIRAZAK we are ready to provide 60-hour training on Islamic banking and finance for banking professionals. The University plans to establish a specialized analytical unit for partner banking studies."

The establishment of the Center is another attestation to the importance of Tatarstan and Kazan University in nationwide efforts to introduce new infrastructure projects and provide funding for them.