The second session of the training workshops organized within the Moscow Halal Expo 2014 exhibition took place on 6 June. Bulat hazrat Mulyukov, the event’s presenter, devoted this part of the workshop to specific features of different Islamic financing tools. The audience members had a chance to obtain detailed information about the terms like mudaraba, musharaka, ijara and many others.
Modern legal organizational forms of enterprises were examined during the workshop and assessed from the point of view of Shariah and Islamic notion of responsibility.
The listeners also learned interesting facts about the history of Islamic banking, in particular, about the interest-free principles of economic performance in such countries as Sudan or Iran. When talking about the Russian financial market, the presenter noted that it was not fit yet for doing business according to Islamic principles. However, this issue is now being addressed, and certain components of Islamic banking are starting to get introduced into the Russian economy.
In conclusion, Bulat hazrat Mulyukov mentioned the attitude of Muslims towards such market phenomenon as multi-level marketing. On the whole, this idea does not contradict Islamic principles. According to Islamic principles, whoever guides someone to goodness will have a similar reward. However, the modern form of such companies’ work is perceived quite negatively as it is connected with some usurious features and non-transparent business operations.