KAZANSUMMIT 2010 

Summary of the II International Islamic Business and Finance Summit

June 29, Cultural-Entertainment Complex "Pyramid” (Kazan), closing ceremony of the II International Islamic Business and Finance Summit (KAZANSUMMIT 2010)

First of all it is necessary to mark a scale growth of this event. To compare with the last year Summit, KAZANSUMMIT 2010 has become much more numerous. The Summit hosted up to 500 participants from over 24 countries of Souh-East Asia, Middle East, Europe and Africa (Russian Federation, Belgium, Bosnia and Hrzegovina, United Kingdom, Germany, Hong Kong, Bahrain, Indonesia, Italy, Yemen, Kazakhstan, Cyprus, Kuwait, Lebanon, Luxemburg, Malaysia, UAE, Palestine, Pakistan, South Korea, Saudi Arabia, Sudan, USA, Turkey, France). Principally they were investors, financial officers, bankers, Sharia experts, lawyers and politicians.

KAZANSUMMIT 2010 had an honour to host ex-prime minister of Malaysia and Chairman of the Global Alliance for Partnership in International Development «GAPID» H.E. Tun Dr. Mahathir who is famous for poverty level decrease in his country from 70% down to 5%. His speeches arouse a great interest among the audience during the whole period of the Summit.

President of Republic of Tatarstan Mr. R. Minnikhanov held the floor with opening speech at the Strategic Forum . Next to him were Khaled M. Al-Aboodi CEO & General Manager of ICD, Advisor to the General Secretary of OIC Amb. Nabika Diallo, Plenipotentiary representative of the Russian Federation to OIC Mr. Kamil Iskhakov, Member of House of Lords Mohamed Iltaf Shaikh, President of Islamic Business and Finance Development Foundation Mr. Linar Yakupov.

Another attribute of the Forum has become its’ eventfulness. Comparing with the last year our capital hosted the Summit itself and this year according to the Summit participants "the programme was so rich that they could hardly visit all events within KAZANSUMMIT 2010”.

And it was really so. The 1st International Trade Fair of Halal goods KAZANHALAL 2010 opened 2 days before KAZANSUMMIT 2010. More than 45 producers from Tatarstan, Bashkortostan and Mari El Republic, Chelyabinskiy, Samarskiy, Nizhegorodskiy, Penzenskiy, Moskovskiy and Permskiy regions demonstrated their production at the event: clothes, bakery, meat&dairy, books, medical products etc. numerous Kazan residents and guests enjoyed visiting the Trade Fair greatly. Islamov Airat, CEO of CJSC "Linova-Media” (event manager of KAZANSUMMIT 2010), noted that more than 10.000 visitors of different confessions had attended KAZANHALAL 2010 from June 26-28. It proves that "halal” products are distinguished with high quality that is very important for food and cosmetics. For the exponents of Trade Fair this 3 days have become a period of close cooperation and communication between producers from different regions of Russia that resulted in arrangement of different agreements on mutual cooperation.

Another significant event for "halal” goods has become Halal Industry Forum, that was held on June 27. It resulted in signing a Resolution on establishment of Russian association of "Halal” committees and Russian union of "Halal” producers. The newly established bodies will be supervised by the working group of the Islamic Business and Finance Development Foundation (IBFD Foundation).

At the same day on June 27 other 3 important events were held: Pre-Summit seminar for consulting and legal companies, Meeting of International Business Association and Round Table on Muslim Philanthropy. Summing up the results of this meetings President of IBFD Foundation Mr. Linar Yakupov stressed out that "its main goal is sharing experience among participants from different countries had been achieved”.

The opening ceremony of "Kazan Halal Hub” before KAZANSUMMIT 2010 has become an important event as well. This transport & logistic center that is situated close to Kazan International Airport has already found its 1st client "Altyn Saba”. Moreover 6 and more companies are eager to cooperate with Kazan Halal Hub that in perspective will become one of the main elements of the Russian Halal market infrastructure. Its integral and productive part will become Halal Industrial Park (HIP) in Baltasi region of Tatarstan.

2 more events were conducted in the second day of KAZANSUMMIT 2010: Investment Forum and Islamic Economics and Finance conference. Within the framework of Investment Forum a range of perspective Russian investment projects were performed to the participants that arouse interest among investors and international business entities. At the end of the Forum a resolution was taken on establishment of Islamic leasing company before the end of 2010 that will examine projects submitted at the Investment Forum. Problems of investment opportunities and practice of mobilization of investment were discussed by recognized experts at the Islamic Economics and Finance Conference .

During the Summit participants were acquanted with different companies and enterprises at the Investment exhibition. Presentation stands of the Republic of Tatarstan, Bashkortostan and Ulianovsk region aroused great interest among the visitors.

Cultural programme as trip to the ancient Bolgar city by speed river boat "Meteor", city tours, concert programme and boat trips on Kazanka river have shown beauty of our city as well as let the guest to feel the harmony of East and West cultures that are closely interwoven with each other.

Summing up the results of KAZANSUMMIT 2010 the participants unanimously agreed that it has made a "positive impression both in results achievement and level of organization”. "In general it was successful: an effective dialogue was held between different specialists and experts of Russia and muslim countries; Summit participants shared with their oppinions on different aspects of Islamic banking, many companies have conducted business meetings, for example Tatarstan International Investment Company (TIIC) held the Board of directors meeting. We truly believe that next KAZANSUMMIT 2011 that is going to be held in June 20-21, 2011 will much more strengthen and inspire development of Islamic Business and Finance in Russia, the CIS and the world”, said the President of IBFD Foundation Mr. Linar Yakupov in conclusion.