Russian based IBFD Fund signs strategic partnership with Shariyah Review Bureau to promote Islamic finance transactions

Shariyah Review Bureau (SRB) has signed a strategic partnership with Russia-based Islamic Business and Finance Development Fund (IBFD Fund) to become its Official Sharia Advisory Partner. Under the agreement, IBFD Fund’s partnership will leverage SRB’s extensive Shari’a consultation footprint and scholarly network to promote, upgrade and administer Russian financial establishments to set up Sharia compliant funds and transactions. Alongside the Sharia Advisory activities, the engagement will see SRB focus on developing and building its scholarly capabilities in the Russian language while IBFD Fund will add promotional service locations to its existing network as well as increasing their overall capabilities. The partnership will also strengthen credibility between CIS and GCC countries in the domain of Islamic finance.