28.11.2024 — by the author Press service in News
On 22 November 2024, a themed business breakfast was held in Kazan on the advantages and prospects for the development of the partnership financing instruments (Sukuk) market for Russian bond issuers, with the participation of AS SALYAM, representatives of the authorities and the Investment Development Agency of the Republic of Tatarstan, the Central Bank of the Russian Federation, the Moscow Exchange, GPB Bank (JSC) and the heads of the financial departments and treasuries of the largest companies in the Republic of Tatarstan.
Sukuk are securities issued in accordance with Sharia standards.
This meeting marked the beginning of the establishment of the sukuk market in the Russian Federation. During the business breakfast, participants discussed the principles and basic requirements for partnership financing instruments within the framework of current legislation and regulation in the Russian financial market, approaches to structuring sukuk transactions, and the advantages of issuing such bonds for issuers and investors.
Renat Anvarovich Edikhanov, Chairman of the Board of AS SALYAM software: «Together with the Government of the Republic, we have done a lot of preparatory work with the largest companies in Tatarstan, as a result of which we hope to begin a new stage in the preparation and organisation of sukuk issues on the Russian market. I would like to thank our colleagues from various ministries and departments who are helping market participants to conduct business in accordance with the principles of partnership finance for their assistance and support.
We are also actively negotiating with a number of potential issuers – federal companies from various regions of the Russian Federation.
This is a historic milestone, as the issuance of market sukuk lays the foundation and creates the basis for the formation of the sukuk market in Russia and opens up opportunities for attracting foreign investment to the country.
We invite all potential issuers to cooperate with us and will be happy to contribute to the development and scaling of your business.
Member of the Sharia Council of AS SALYAM Ruslan Radikovich Khalyullin: «Any company whose activities do not contradict Sharia law can be a sukuk issuer, both those who share the principles of partnership financing and those who are just getting acquainted with this new instrument for attracting financing on the Russian market. At the same time, there is interest in sukuk as an investment instrument on the market, and requests are received on a regular basis.»
AS SALYAM Group (Nos. 19, 20 in the Central Bank of Russia register in accordance with No. 417-FZ) https://ас-салям.рф/