Kazan: The 16th edition of the Russia-Islamic World International Economic Forum concluded its 16th edition on Sunday, in Kazan, the capital of the Russian Republic of Tatarstan, with the participation of high-level representatives from Russia and the Organization of Islamic Cooperation (OIC) member states.
According to Kuwait News Agency, the attendees discussed ways to enhance economic cooperation in light of global digital transformations, emphasizing the importance of developing strategic partnerships in the fields of technology, Islamic finance, and joint investments. The forum witnessed the signing of more than 120 agreements and memoranda of understanding between participating parties in the fields of transportation, energy, and Islamic finance. New initiatives were also announced to promote halal exports and expand Islamic banking in Russia.
The forum, which began its session on May 13 and concluded on May 18, also addressed the most prominent global economic challenges and ways to leverage modern technology to enhance investment partnerships. Discussions focused on vital areas that present promising opportunities for cooperation, most notably digital infrastructure, financial technology (FinTech), e-learning, and cybersecurity as a fundamental pillar for ensuring the success of digital transformation.
A press release by the forum’s organizing committee confirmed that the closing session was chaired by the Secretary General of the General Council for Islamic Banks and Financial Institutions, Abdelilah Belatik, with the participation of prominent political and diplomatic figures, as well as high-level representatives from the Arab and Islamic worlds.
The Kazan Forum has become one of the most important international economic events that brings together Russia and the countries of the Islamic world, as it contributes effectively to enhancing trade and investment exchange between the participating parties. This year witnessed a significant increase in the volume of economic cooperation between Russia and the countries of the Organization of Islamic Cooperation.