KHABIB FOUNDATION
The Foundation for Education, Sports and Social Initiatives
367026, Rep. Dagestan, Makhachkala, 46 Imam Shamil Ave.
Promoting partnership financing
Years of research suggest that to successfully meet the challenges faced by the Khabib Foundation it is crucial that proper and equitable rules of the economic system are in place. With this in mind, we have demonstrated an unfailing commitment to strengthening the role of partnership financing in the global economy.
A competitive environment where every economic entity is driven solely by a pursuit of personal profit, without any moral or ethical limitations to speak of, will always promote the use of monetary instruments that contribute to the infinite enslavement of people and bring about the degradation of natural resources and climate change.
In a free market that is not bound by any religious or moral constraints, with an economic model that relies on the rules laid down as far back as in the 17th century, one that implies that economic fairness should be ensured by a natural mechanism – that is, by an ‘invisible hand’ –
In a free market that is not bound by any religious or moral constraints, with an economic model that relies on the rules laid down as far back as in the 17th century, one that implies that economic fairness should be ensured by a natural mechanism – that is, by an ‘invisible hand’ –
the grim reality is that of continuously deteriorating business and social outcomes, lack of environmental awareness and unfair distribution of resources which results in recurring cycles of economic recession that inevitably lead to more countries sliding into international conflicts.
In this context, a transition from an economic paradigm based on credit to one that is underpinned by partnership, moral integrity and ethics appears a natural and inevitable outcome.
The Khabib Foundation has consistently worked on creating in Russia a financial infrastructure based on partnership banking instruments and innovative banking technology. Once this infrastructure is in place, it will help engage the country’s extensive Muslim population in business activities, ensure proper business cooperation with countries with significant Muslim population, and lay the groundwork for building a multi-polar world and a more equitable global financial system based on partnership.
In this context, a transition from an economic paradigm based on credit to one that is underpinned by partnership, moral integrity and ethics appears a natural and inevitable outcome.
The Khabib Foundation has consistently worked on creating in Russia a financial infrastructure based on partnership banking instruments and innovative banking technology. Once this infrastructure is in place, it will help engage the country’s extensive Muslim population in business activities, ensure proper business cooperation with countries with significant Muslim population, and lay the groundwork for building a multi-polar world and a more equitable global financial system based on partnership.
Meeting between Dr. Sami Al-Suwailem, Director General of the Islamic Research and Training Institute (IRTI, part of the Islamic Development Bank Group) and Raid Abdurakhmanov, Vice President of the Khabib Foundation.
Signing the Memorandum on Cooperation in the development of partnership financing (Islamic banking) between the Khabib Foundation and VEB Engineering, a subsidiary of state corporation VEB.RF. 2023 St. Petersburg International Economic Forum.
A meeting with the administration of the Republic of Dagestan, one of Russia’s regions where an experimental Islamic banking system was introduced under the recent legislation on partnership financing.
© KHABIB FOUNDATION
The Foundation for Education,
Sports and Social Initiatives
2023
The Foundation for Education,
Sports and Social Initiatives
2023
367026, Rep. Dagestan, Makhachkala, 46 Imam Shamil Ave.
