Sberbank shared its experience in the field of Islamic banking at a seminar at the Frankfurt School of Finance and Management

August 9, 2017, Frankfurt – Behnam Gurban-Zade, ther advisor of the Deputy Chairman of the Board of Sberbank, the bank's main expert in the field of Islamic finance, spoke at a seminar in Frankfurt.

Discussions were focused on such topics as comparative analysis of standard and Islamic finance, management, audit and accounting in according to Islamic finance, risk management in Islamic finance, and the direction and prospects of Islamic banking and the financial industry.

During the seminar, the demand for Islamic finance products and services was analyzed in European markets. The study showed that mainly the potential demand is concentrated around the investment and digital industries. Participants of the event considered the possibilities of introducing virtual platforms for trade in consumer and agricultural goods, as well as incubators for the development of start-ups corresponding to the norms of the Islamic economic model.

"The participants of the seminar gave a clear message that they consider Russia as an alternative food supplier that is generally accepted by the international standards of  Halal," said Behnam Gurban-Zade. "Moreover, having at our disposal production facilities and technologies for the production of pharmaceutical and cosmetic products, Russia has the ability to produce medicines and cosmetic products that suit the standards of Halal."

Islamic financing is one of the fastest growing ecosystems in the world, which is a promising direction of development for the European market. The Frankfurt School of Finance and Management develops new training programs for the international business community and presents them around the world, taking the leading positions in its industry.
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