Company “ISRA Consultancy Sdn” will hold a seminar on Islamic financing

On July 26, 2018 the International Consulting Company “ISRA Consultancy Sdn” (Malaysia) representatives group has arrived with working visit to NBT. Within the limits of this visit the International Consulting Company “ISRA Consultancy Sdn” will hold the educational seminars and working sessions for employees of banking system of the country concerning Islamic financing from July 27 till August 5 of current year on the initiative of the National Bank of Tajikistan.

During the seminar, on a par with studying of “Islamic Financing Principles”, “Calculations on Islamic Financing”, “Accounting economies”, “Capital adequacy” and “Risks and management of capital” the specialists of International Consulting Company also will represent information on history of initiation of Islamic banking system, formation periods, development and its regulation, on the Islamic financing implementation procedures, products and principal types of services, activity of Shariah Council, Advisory Board on Islamic banking services, Sharia-based supervision, and about such kinds of financing, like murabaha, tavaruk, ijara, muzarabah, musharaka, mutanokisa, salam, istisna, vadiah and hasana.

It is necessary to note that on the basis of instructions of the Government of the Republic of Tajikistan on acceleration of implementation process of new alternative systems of Islamic banking, supervision and regulation of Islamic credit institutions’ activities in the country.

The National Bank of Tajikistan has signed agreement on cooperation with International Consulting Company “ISRA Consultancy Sdn”. The experts of the given company within the limits of cooperation with the National Bank of Tajikistan will support with preparation and discussion of drafts of regulatory legal acts for regulation and supervision of the Islamic credit institution, also will train specialists of banking system of the country on Islamic Financing.

For the purpose of creation of legal base on implementation of Islamic banking, on July 26, 2014 was adopted the Law of the Republic of Tajikistan on Islamic Banking Activities, which defines legal and organizing bases of Islamic banking and provides a favorable condition for its realization.

Press Service NBT