Miras Financial Company and the Muftiyat of the Republic of Dagestan have signed a Cooperation Agreement aimed at supporting the development of Islamic financial services in the Republic of Dagestan and beyond.
The agreement establishes a framework for cooperation between the two organizations to help create opportunities for the Muslim community to access financial services that are consistent with the principles of Islamic law.
Key Areas of Cooperation
Under the agreement, we will cooperate in several key areas, including:
- Development and implementation of Islamic financial instruments;
- Promotion and dissemination of information about Islamic financial services among the Muslim population, religious organizations, and educational institutions;
- Expert review of financial services presented as Islamic to assess their compliance with the principles of Islamic law.
The agreement also provides for closer professional and expert cooperation. We may establish joint scientific, expert, advisory, and working groups involving specialists from both organizations as well as external experts.
Our experts will also exchange information and analytical materials related to Islamic finance and make use of their existing information resources to increase awareness of Islamic financial services.
Combining Financial Expertise and Shariah Expertise
As part of the cooperation, we will use our financial and organizational capabilities to develop and provide financial services designed to comply with Islamic principles.
The Muftiyat of the Republic of Dagestan, in turn, will review relevant information and materials from the perspective of Islamic law and provide recommendations and proposals concerning the organization of Islamic financial activities.
This approach creates a framework for continued dialogue between financial professionals and Islamic-law experts, supporting the development of financial solutions that take both practical financial requirements and Shariah principles into consideration.
A New Step in the Development of Islamic Finance in Dagestan
The cooperation agreement represents an important step in our efforts to expand its activities in the Republic of Dagestan and contribute to the development of the Islamic finance ecosystem in the region.
Dagestan has significant potential for the development of Islamic financial services. Cooperation with established religious and expert institutions can help strengthen awareness, expertise, and trust in Islamic finance while supporting the development of products and services aligned with Islamic principles.
We look forward to working together with the Muftiyat of the Republic of Dagestan to support the responsible development of Islamic financial services and expand access to Shariah-compliant financial solutions.