Rustam Minnikhanov: Tatarstan intends to adopt Malaysian experience in using Islamic financial tools

“Malaysia is an undoubted leader in the sphere of Islamic finances and Tatarstan intends to adopt experience of this country in this issue”, - President of Tatarstan Rustam Minnikhanov announced at a meeting with Ambassador extraordinary and plenipotentiary of Malaysia in RF Dato' Zainol Abidin Bin Omar. The meeting was held within the frameworks of III International Islamic business and Finance Summit “KazanSummit - 2011" (Kazan, KRK “Pyramid”).

Rustam Minnikhanov thanked Mr Ambassador of Malaysia for participation in the summit and visit to Tatarstan Republic. He reminded that in 2010 former Prime Minister of Malaysia, Chairman of The Global Alliance for Partnership in International Development (GAPID) Mr Mahathir Mohamad arrived in Kazan to take part in KazanSummit.

President of Tatarstan noted that on visiting Malaysia he learnt much new and useful information about approaches of the country’s leadership to attraction of foreign investments, public management in Malaysia and realization of projects within the frameworks of Islamic banking. “It is a huge stratum of information which should be used in Tatarstan.We will study Malaysian experience in many sectors”, - he said.

Rustam Minnikhanov informed about assigning Linar Yakupov to the post of Head of newly founded structure - RT Agency for investment development. He was educated in Malaysia and lived in the country for 10 years.
Ambassador extraordinary and plenipotentiary of Malaysia in RF Dato' Zainol Abidin Bin Omar noted that Malaysia and Russian Federation had established perfect relationships. “We should consolidate these relations and find new possibilities for mutually beneficial cooperation. Tatarstan as one of intensively developing regions may become a good site for Malaysia to study Russia’s potential and its entrance to the markets”, - Dato' Zainol Abidin Bin Omar said. By his words Tatarstan and Malaysia have good perspectives for cooperation in educational sector. In terms of investment activity Malaysia takes part in realization of several projects in Tatarstan.

According to Dato' Zainol Abidin Bin Omar Malaysian specialists will continue facilitating Tatarstan colleagues on issues of Islamic banking, using “sukuk” obligations and development of halal activities.

Malaysian delegates told about some prospects of cooperation with Tatarstan. To intensify work in all directions they suggested organizing Tatarstan-Malaysian business council (the document about creation of such structure is expected to be signed on June 21 within the limits of III International Islamic business and Finance Summit KazanSummit .

“As soon as Tatarstan makes decision about issuing “sukuk” obligations Malaysia will be eady to help with their successful placement”, - the official of Malaysian central bank said.