17.04.2015 Gaidar Readings in Baku

Gaidar Readings "Prospects for Islamic Banking Development on the Post-Soviet Area" were held in the city of Baku (Azerbaijan) on 17 April 2015.

Gaidar Institute for Economic Policy, Yegor Gaidar Foundation and Khazar University were the Readings' organizers.

Professor Hamlet Isakhanli, Founder of the University and Chairman of its Board of Directors and Trustees, opened the morning session.

Sergey Prikhodko, Gaidar Institute Executive Director, moderated the morning session "Modern Trends and Challenges in the Russian economy and Prospects for Islamic Banking in the Russian Federation."


Dr. Sergey Drobyshevsky, Gaidar Institute Scientific Director, made presentation on the drivers of crisis developments in the Russian economy and current challenges of economic policy.
Pavel Trunin, leading researcher at the Center for Research of Central Banks at the Russian Presidential Academy of National Economy and Public Administration (RANEPA), focused on the RF Central Bank policy and stabilization of monetary policy in Russia.

Prof. Vusal Gasimli, Head of Economic and Global Affairs department at the Center for Strategic Studies under the President of Azerbaijan, elaborated on the challenges and prospects of development of the Azerbaijan economy.

Irina Starodubrovskaya, Director of Center for Political Economy and Regional Development of the Gaidar Institute, made presentation on the Islamic Banking as the instrument for stabilization in the North Caucasus.


Presentation made by Rasul Musaev, Professor of the MSU economic department, "Development Dynamics of Islamic Finance in the Wake of Globalization" wrapped up the morning meeting.
Rovshan Guliev, Professor of Baku State University, moderated the afternoon session which focused on specifics of mechanism of Islamic banking performance.

Magomet Yandiev, senior researcher at the Laboratory of Structural research of the Russian Presidential Academy of National Economy and Public Administration, in his presentation focused on the formation and development of demand for Islamic financial products in Russia.

Salman Najafov, researcher of the Azerbaijan University of tourism and management, made presentation on "Current Debt Problems and Ways of Their Solution in the Framework of Traditional and Islamic Banking."

Radil Fatullaev, deputy chairman of the Center for Economic Resources Studies, in his presentation spoke about the history of accounting in Islam and its difference from the traditional bookkeeping and accounting systems.


Bekhan Chokaev, senior researcher at the department of global trade of the Gaidar Institute, focused on the issues of regulation of Islamic financial organizations regulation.
Asif Sadygov, doctoral student of Khazar University, spoke on "Prospects for Islamic Banking in the Resources Rich Countries."
Ingilab Akhmedov, dean of the economics and management department of Khazar University, moderated the evening session "How to Implement the Islamic Banking Potential on the Post-Soviet Area."

This session presenters were: Timur Omarov, Head of the directorate of the Islamic financing development of the Department for the regional financial center development of the city of Alma-Ata and Islamic financing of the National Bank of the Republic of Kazakhstan (presentation – "Prospects of Making Alma-Ata as Regional Islamic Financial Hub"); Bekham Gurbanadze, Director of Department for Islamic Banking at the International bank of Azerbaijan; Farkhad Amirbekov, applicant of the Institute for Systems Analysis RAS, Head of BICE of Azerbaijan; Isa Berkhaev, Executive Director of the Association for the Development of halal industry (focused on the prospects of the Islamic Banking in the republics of North Caucasus).