25 May 2026

PR/07/2026

Kazan, Republic of Tatarstan – The Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI), through the AAOIFI Centre for Islamic Finance Development in Kazan, successfully concluded the 2^nd International Conference on Partnership Finance and Investments on 15 May 2026. The event was held within the framework of the XVII International Economic Forum ‘Russia — Islamic World: KazanForum 2026’ at the Kazan Expo International Exhibition Centre.

Held under the patronage of the Ministry of Economy of the Republic of Tatarstan and in partnership with Sberbank, the conference brought together senior policymakers, regulators, Islamic financial institutions, development institutions, Shari’ah scholars and market participants from Russian Federation, the Commonwealth of Independent States (CIS), the Gulf Cooperation Council (GCC) and the wider global Islamic finance ecosystem.

Building on the inaugural edition held at KazanForum 2025, this second edition reflected continued institutional dialogue, regulatory engagement and market development. The conference reviewed the early work of the AAOIFI centre for Islamic finance development in Kazan, founded in December 2025, examined the prospects for Islamic finance across the CIS and devoted focused attention to Sukuk as an instrument for state and public finance in its three main sessions.

The conference was addressed by H.E. Mr. Shagiakhmetov Midkhat Rafkatovich, Deputy Prime Minister and Minister of Economy of the Republic of Tatarstan, Russian Federation; H.E. Shaikh Ebrahim bin Khalifa Al Khalifa, Chairman of the Board of Trustees of AAOIFI; H.E. Mr. Vladimir Chistykhin, First Deputy Governor, Bank of Russia; Mr. Oleg Vladimir Ganeev, Senior Vice President at Sberbank, Russian Federation; and Mr. Amier Almousa, Director of AAOIFI Centre for Islamic Finance Development, Kazan, among others.

H.E. Mr. Shagiakhmetov Midkhat Rafkatovich, Deputy Prime Minister and Minister of Economy, Republic of Tatarstan said, “Tatarstan has the demographic depth, economic base and institutional commitment to support the practical development of partnership finance. Our priority is to move this agenda from discussion to implementation by developing credible structures, capable institutions and commercially meaningful opportunities. We welcome deeper engagement with GCC investors and institutions, and look forward to working with serious long-term partners who can contribute to the development of partnership finance in Tatarstan and the wider region.”

In his keynote address, H.E. Shaikh Ebrahim Bin Khalifa Al Khalifa, Chairman of the Board of Trustees of AAOIFI, stated: “A practical next step should be the development of country-level and regional Islamic finance roadmaps, led by CIS countries themselves in coordination with the AAOIFI Centre for Islamic Finance Development, the Islamic Development Bank and other relevant stakeholders. These roadmaps can help translate policy interest into practical implementation, supported by clear legal, regulatory and institutional priorities.” He added: “The CIS has the opportunity to become an important frontier for Islamic finance if its development is built on sound standards, credible institutions and practical cooperation.”

Mr. Oleg Vladimir Ganeev, Senior Vice President, Sberbank, Russian Federation, remarked: “Russia’s financial sector has the scale, reach and responsibility to support the evolving needs of its economy and population. Partnership finance can make an important contribution to that objective by widening the range of responsible and asset-linked financing solutions available in the market. Sberbank is committed to working constructively with regulators, institutions and investors to support the practical development of this market.”

Alongside the main conference, AAOIFI convened a closed-door Islamic investment roundtable, providing a strategic platform for senior participants from CIS and GCC to discuss investment pathways, ecosystem readiness and investor expectations. Participants considered how AAOIFI standards, technical cooperation and institutional dialogue can bring stronger alignment between countries developing partnership finance frameworks.

The conference and roundtable reaffirmed the importance of internationally recognised standards, sound Shari’ah governance, legal clarity, professional capacity and credible market infrastructure in supporting the sustainable growth of Islamic finance. They also highlighted the mandate of the AAOIFI Kazan Centre as a neutral, standards-led platform supporting country-level roadmap development and practical implementation across the CIS.

A specialised Sukuk workshop was also held on 13 May, introducing participants to the practical aspects of Sukuk structuring, governance and financial reporting in accordance with AAOIFI standards. The workshop combined lectures, live discussion and a real case study.

On the sidelines of KazanForum 2026, the following strategic memorandums of understanding and partnership agreements were signed with local stakeholders:

1. Partnership agreement with Universal Blockchain (UNIBLOCK LLC), represented by Mr. Timur Khafizov.
2. Tripartite partnership agreement between AAOIFI and Tugan Batyr LLC, represented by Director Mr. Abdrakhmanov Radik Mukharlyamovich and Universal Blockchain LLC, represented by Mr. Timur Khafizov.
3. Tripartite partnership agreement between AAOIFI and Exchange CTS (JSC «EXCHANGE «CTS»), represented by General Director, Mr. Nikita Zakharov and Universal Blockchain LLC, represented by Mr. Timur Khafizov.
4. Memorandum of understanding with Nahda Islamic Finance, International Business Association, represented by its President, Mr. Abdurashid Abduganievich Zhoraev.