About RAEIF

Russian Association of Experts in Islamic financing was created on March 2, 2010 by transforming the working group on Islamic financial institutions and instruments to constantly operating expert association.

Public organization "Russian Association of Experts in Islamic financing" is the regional voluntary public association based on membership and created according to Civil code of the Russian Federation, the Federal law "About public associations" No. 82-FL, and also the current the legislation of the Russian Federation. The organization is created on the basis of joint activity of its members for protection of common interests and achievement of common goals, and also for supporting its members in implementation of the activities directed on achievement of the objectives. Activity of the Organization is based on the principles of voluntariness, equality, self-government and legality.

Full name of the Organization in English: Public organization "Russian Association of Experts in Islamic financing".

Abbreviated name in English: PO "RAEIF".

The legal status of the organization

• The organization carries out its activity without state registration and acquisition of legal personality
• The organization carries out the activity on the principles of independence, justice, solidarity, voluntariness, legality, observance of equal rights and duties of members, mandatory implementation of the decisions of management bodies of the Organization, made taking into account opinion of minority and striving for a consent.
• The organization is independent in the activity of public authorities, local governments, employers of members of the Organization, political parties and other public associations, it isn't accountable and uncontrollable to them.
• The organization has the right to have the press, a stamp, forms, symbolic, own emblem and other means of visual identification with observance of the legislation of the Russian Federation.
• The organization is not responsible for the obligations of its members. Members of the Organization are not responsible for the obligations of the Organization.
• According to the current legislation of the Russian Federation the Organization can enter into the international public associations, acquire rights and duties according to the status of these international associations, to maintain direct international contacts and relations, to enter into agreements with foreign non-profit non-governmental organizations.

History:

Established on May 18, 2009 as a consequence of resolution of the international conference "Islamic Banking: specifics and prospects" by March 17-18, 2009, the working group on alternative (Islamic) financial institutions and products was designed to develop proposals for the creation of conditions for the functioning of the financial organizations and financial products according to alternative (Islamic) principles of financing on the territory of Russia.

Among the objectives of the working group are preparation of proposals on amendments to the legislation of the Russian Federation to ensure the regulatory framework for the functioning of the financial organizations and financial products according to alternative (Islamic) principles of financing on the territory of Russia, preparation of standard of products and services of alternative (Islamic) financial institutions operating in the territory of the Russian Federation, the development of educational programs for the training of specialists in the above areas, the development of information and education programs on the subject of the working group, participation in researches, and others.