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RUSSIA 2-3 Oct 2013 Tartarstan hosts KAZANSUMMIT 2013

The V International Summit on Economic Cooperation of the Russian Federation and the Organization of Islamic Cooperation (OIC) opens in Kazan, t

October 2, 2013 - NULL

RUSSIA 2-3 Oct 2013 Tartarstan hosts KAZANSUMMIT 2013

The V International Summit on Economic Cooperation of the Russian Federation and the Organization of Islamic Cooperation (OIC) opens in Kazan, the capital of the Russian republic of Tartarstan. The robust promotion of the five-year-old annual gathering of government and business figures reflects the Volga republic's ambitious drive to attract Arab investment. Muslims are Russia's second largest religious group, and form a majority in Tartarstan. The summit is growing in importance at a time when the federal government is paying more attention to Islam as a foreign policy and business

RUSSIA 2-3 Oct 2013 Tartarstan hosts KAZANSUMMIT 2013

The V International Summit on Economic Cooperation of the Russian Federation and the Organization of Islamic Cooperation (OIC) opens in Kazan, the capital of the Russian republic of Tartarstan. The robust promotion of the five-year-old annual gathering of government and business figures reflects the Volga republic's ambitious drive to attract Arab investment. Muslims are Russia's second largest religious group, and form a majority in Tartarstan. The summit is growing in importance at a time when the federal government is paying more attention to Islam as a foreign policy and business strategy and as a potential means of combating the rise of Islamic fundamentalism in Russia. The Caucasus region has been a particular hotbed.

In hopes of attracting Arab investment, Russia entered the world of Islamic finance in 2011 with the issue of bonds that comply with Muslim religious rules. They were issued for Tartarstan, and the federal government is resisting wider Islamic banking concessions. If the October conference proves to be the big magnet for Arab money envisioned by its organizers, the federal authorities might be persuaded to enlarge the system.

On Mar 1, Russian President Vladimir Putin told Voice of Russia that the government has three months to hammer out a single Bachelor's and Master's degree program on studying Islam. Creating such a system is seen as part of an effort to contain religious extremism, according to experts cited by Voice of Russia, referring to the absence of a single higher education system for Muslims in Russia. This prompts young people to go to Egypt, Saudi Arabia and even Kosovo in a bid to get higher education there, according to experts cited in the report. According to one of the experts, it is an open secret that, apart from knowledge, these people also gain radical views there.

After two decades of political and military failure in the violent north Caucasus part of the world, according to The Economist in Apr 2011, the government in Moscow is losing its legitimacy there. It notes that fundamentalist Islam, which had no purchase in Soviet days, has taken hold.

Tatarstan has maintained privileged relations with countries in the Middle East and Southeast Asia. It prides itself on maintaining a distinct identity within Russia although talk of secession that followed the collapse of the USSR has now died down, according to an Expatica report on the new bonds.

KAZANSUMMIT 2013 will coincide with Euro-Asia Expo 2013, an international Russian trade exhibition in Kazan. (WRITTEN MAR 2013)

TAGS: KAZANSUMMIT 2013, V International Summit on Economic Cooperation of the Russian Federation and the Organization of Islamic Cooperation, V International Summit on Economic Cooperation of the Russian Federation and the OIC, Kazan, Tartarstan, Islam, Muslims, Russia, Euro-Asia Expo 2013, Russian President Vladimir Putin, Russia, Russian, news, radical, fundamentalist Islam, Islamic fundamentalists, Islamic radicals, Muslim radicals, October 2013

RELATED READING:

KAZANSUMMIT
http:www.kazansummit.com

Russia enters world of Islamic finance (Expatica 20 Jun 2011)
http://www.expatica.ru/finance_business/banking/Russia-enters-world-of-Islamic-finance-_17469.html

Islam teaching to get to new level in Russia (Voice of Russia 5 Mar 2013)
http://english.ruvr.ru/2013_03_05/Islam-teaching-to-get-to-new-level-in-Russia/

Russia-Islam (Encyclopedia Britannica)
http://www.britannica.com/EBchecked/topic/513251/Russia/38602/Religion

Kazan to host 5th Int'l Summit of Islamic Business and Finance (Iran Radio Islam 2 Jan 2013)
http://english.irib.ir/radioislam/news/islamic-finance/item/85308-kazan-to-host-5th-intl-summit-of-islamic-business-and-finance

OIC
http://www.oic-oci.org/home.asp

Russia's unruly north Caucasus (Economist 7 Apr 2011)
http://www.economist.com/node/18530091

Date written/update: 2013-10-02