21.11.2024 — From the author Press service in News
AS SALYAM, as the initiator and organiser of the first interregional transaction for the ‘digital mudarabah’ product held on 11 October 2024 on the STATUS-INVEST investment platform — an analogue of ‘interbank lending’ for participants in partnership financing — monitors the fulfilment of obligations by the parties and reports on the fulfilment by the recipient of financing, PO Amal (Kazan, Republic of Tatarstan) of the full amount of its obligations for the first interim payment to the investor, the Sheikh Zayed Fund for Entrepreneurship and Innovation (Grozny, Chechen Republic).
Renat Anvarovich Edikhanov, CEO of AS SALYAM software: «Strict adherence to the principles of partnership financing and contractual obligations between partners is a fundamental element of Islamic finance, and trust is the foundation for long-term fruitful relationships. We will continue to monitor the timely fulfilment of obligations by the parties to the transaction. We are pleased that the financing received as a result of the transaction is directed to the benefit of the clients of partnership financing. We invite interested investors and recipients of financing – both participants in the 417-FZ register and companies that have not yet formally joined the experiment but share the principles of partnership financing – to actively submit applications and take advantage of the opportunities offered by the platform created for joint financing.
As a reminder, the products sold on the STATUS-INVEST platform as part of partnership financing are aimed at institutional investors – funds, banks, and investment companies that operate within the Russian legal system and are located within the territory of the experiment.
The Islamic financial product ‘mudaraba’ is a financing agreement under which the investor provides the borrower with a loan and receives as income a share of the profit generated by the project that the borrower implements using the borrowed funds.
The platform’s investor clients can be individuals, sole traders and companies of any legal form – anyone who shares the principles of partnership financing, as well as those who are just getting to know this product, which is new to the Russian market.
The recipients of financing for projects requiring investment can be Russian companies operating in the Russian Federation whose activities comply with Sharia law.
- AS SALYAM Group (Nos. 19, 20 in the Central Bank of Russia register in accordance with No. 417-FZ) https://ас-салям.рф/
- STATUS-INVEST investment platform (STATUS JSC) (in the Central Bank of Russia’s register of investment platform operators since 22 January 2021) https://platform.rostatus.ru/
- Sheikh Zayed Fund for Entrepreneurship and Innovation LLC (established in 2017 as a result of an agreement between the Head of the Chechen Republic, R.A. Kadyrov, and the President of the UAE, Sheikh Khalifa bin Zayed Al Nahyan) https://zayedfund.com/
- FD Amal (Nos. 5, 7 in the register of the Central Bank of the Russian Federation in accordance with No. 417-FZ) https://amal.ru/