Islamic Business and Finance Development Fund (IBFD Fund) and Edbiz Consulting Limited (Great Britain) has made an agreement of mutually beneficial co-operation at promotion and development of Islamic finances in Europe and Russia.

Memorandum aimed on further development Islamic finances, ethic business practices implementation and financial and social responsibility.

Common initiatives within the framework of Memorandum are:

– Global Islamic Finances Report (GIFR) – annual report of 2015 will be dedicated to “Leadership at sphere of Islamic banking and finances”. IBFD Fund and Edbiz Consulting will work collaboratively on promotion of the report and content of it.

– Global Islamic Finances Award (GIFA) – annual award for celebration and acknowledgement of institutions achievements (banking and financial) educational structures and individuals at Islamic banking and finance. GIFA 2015 will be carried out at one of the CIS countries and IBFD Fund will assist Edbiz Consulting at GIFA 2015 organization.

– National project of knowledge, methods and practices advancing at sphere of Islamic finances and banking in Russian Federation. This project is aimed to evaluation of demand for Islamic banking finance at different regions of Russian Federation. Such research of demand and supply for Islamic finances has been carried out by Edbiz Consulting in Pakistan. On base of this report government and national bank drawn up the policy.

– Consulting of Islamic finance business – the parties have agreed to cooperate at consulting of banks and financial institutions of Russian Federation at sphere of Islamic finances.

– International economic summit of Russia and OIC countries (KazanSummit). Edbiz Consulting as IBFD Fund will be strategic partner of International economic summit of Russia and OIC countries (known as KazanSummit). Next summit will be carried out June 15-16, 2015.

“The signing of treaty is great step for development of Islamic banking and finances in Russian Federation, we sure that cooperation of two organizations will be productive for Islamic finances” – stated Professor Humayon Dar, the chairman of Edbiz Consulting. “We proud to espouse the cause of the Islamic banking and finances with IBFD Fund”

The president of Islamic Business and Finance Development Fund, Linar Yakupov has stated that IBFD Fund as Islamic business and finance center of excellence in Russia is interested covering new territories and to cooperate with Islamic financial organizations of Europe.

“We work for a long time at sphere of international Islamic finance, and cooperation with Edbiz will assist for further advancing of Islamic banking and finances in Russia and CIS countries” the president of Fund stated.


Islamic Business and Finance Development Fund (IBFD Fund) – non-commercial organization founded in 2009 after first International economic Summit of Russia and OIC countries (KazanSummit) had been carried out. The aim of the organization is assistance of development of economic and business bilateral relations between Russia and Organization of Islamic Cooperation country members.

Principal activities of Fund are assistance of development of Islamic financial services in Russia at sphere of banking, capital and insurance market by providing of business solutions, Islamic finances and banking educational programs and trainings, organization of international business-events and coordination, carrying out of master-classes, round-tables, seminars and conferences for market moderators and professionals. Fund works with international, regional and national organizations, research and education institutes and members of market.

For further information visit: or call +7 (843) 5676060

Edbiz Consulting Limited – consulting department on Islamic finances of Edbiz Corporation, located in London. Edbiz Consulting provides consulting at Islamic business for different companies, regulatory authorities and multidisciplinary institutes throughout the world. Islamic finances advancing program includes Global Islamic Finance Report (GIFR), Global Islamic Finance Award (GIFA) and Islamic Finance access program (IFAP).

For further information visit: or call + 44 20 71479970