Kazansummit 2009

Resolution adopted by the General assembly of the participants of KAZANSUMMIT 2009 on results of the 1st International Islamic Business and Finance Summit

General Assembly of the Summit, referring to the intentions on cooperation expressed during the Summit and fixed documentarily between the Prime-minister of the Republic of Tatarstan Rustam Minnikhanov and the General manager and the chief executive officer of the Islamic Corporation for Development of the Private Sector Khaled Al-Aboodi, adopted on development of the statements by the presidents of the Republic of Tatarstan and the Islamic Development Bank, made during the International Islamic Investment Conference held in June 2008, in Kazan,

acknowledging the contribution of IFC Linova to the establishment and development of the Summit, as its initiator and organizer,

remembering the wishes, recommendations, suggestions made by the participants of the Summit on organization of the Summit and its meaningfulness, having a particular importance for development of Russian Islamic financial institutions and infrastructure,

noting with pleasure the initiative of commercial and state institutes in organizing and holding the Summit as a platform for development of entrepreneurial, financial, and investment relations conforming with Islamic principles, in the Russian Federation,

welcoming the genuine interest, shown by the participants, guests of honour of the Summit and mass media, in the development of the Islamic economic model as a measure to counteract the negative global economic trends,

1. takes into account the final report by the Head of the Organizing Committee Linar Yakupov,

2. notes that the problem of impact of the global financial crisis on development of Islamic financing was considered at the Summit,

3. emphasizes the importance of continuation of public consideration of the problem of Islamic financial system development, as it is, by the participants of the Summit and in this connection notes the discussions about further work in development of Islamic finance, which took place within the framework of the Summit where this problem was considered,

4. draws particular attention of entrepreneurs, state regulators, and representatives of the public to reasonability of developing actively the Russian Islamic financial system as a special mechanism, necessary to conduct business in accordance with Islamic principles,

5. calls on the Government of the Russian Federation, executive bodies of the subjects of the Russian Federation, leaders of the Islamic Development Bank and other international and Russian organizations to give every kind of support in organizing the Summit annually to reveal its socio-economic potential, including giving due organizational and informational support,

6. proposes to the Organizer of the Summit to consider together with international partners the issue of establishing a special company organizing the Summit on an annual basis, with the possibility of taking part in its supervisory bodies of representatives of state authorities, international and Russian organizations,

7. acknowledges the need to develop interrelations between the Organizing Committee of the Summit and organizers of international social-economic events, that is: summits, forums, conferences, devoted mainly to Islamic business and finance, as well as the contribution which can be made by the participants of the Summit,

8. resolves to hold the Summit annually with its venue in the city of Kazan, mainly in June taking into account possible corrections brought in by the Muslim calendar,

9. and asks the Organizing Committee of the Summit to present a report on the International Islamic Business and Finance Summit and its development to the General Assembly of the participants of the Summit during its next meeting.