OREANDA-NEWS. Behnam Gurban-Zada, Advisor to Deputy Chairman of Sberbank’s Executive Board and Chief Islamic Finance Officer at the Bank, spoke at a seminar in Frankfurt.

Discussions were focused on topics such as comparative analysis between conventional and Islamic finance models, governance, audit and accounting in Islamic financing, Risk management in Islamic financing, and trends and potential within Islamic banking and the financial industry.

The seminar included an analysis of demand for Islamic financing products and services in European markets. Research showed that in general, potential demand is concentrated around the investment and digital sectors. Participants of the event looked at the possibility of creating virtual platforms for trading consumer and agricultural goods, and start-up incubators that meet Islamic economic standards.

«The participants of the seminar conveyed a clear message that they consider Russia as an alternative supplier of halal-certified foodstuffs,» said Behnam Gurban-Zada. «Furthermore, as Russia possesses the facilities and technology needed to produce pharmaceuticals and cosmetics, it can also potentially become a supplier of medicine and cosmetics that meet halal standards.»

Islamic financing is one of the fastest growing ecosystems in the world with promising prospects for European market. Being at the leading positions, Frankfurt School of Finance and Management focuses on developing new study programmes for the international business community and presents them worldwide.