Khusnullin at the "Kazan Forum": "Since 2022, the country's priorities have changed - now we are more focused on the East and Asia."

      Minnihanov announced the growth of the Islamic fintech market to $340 billion by 2029

      The global market for Islamic fintech companies is estimated at $200 billion

      At the plenary session of the 17th International Economic Forum "Russia – Islamic World: KazanForum – 2026," discussions were held on how to combine technology and finance to create new growth points. The meeting participants were welcomed by the President of Tatarstan, Rustam Minnikhanov. "KazanForum" is the main platform for developing cooperation between the Russian Federation and Muslim countries. It is a great honor for the Republic of Tatarstan to host its friends from many countries and Russian regions every May. This year is special – by unanimous decision of the culture ministers of the Organization of Islamic Cooperation, Kazan has been recognized as the cultural capital of the Islamic world for 2026," said Minnikhanov. He also expressed gratitude to the leadership of the OIC for granting Kazan this status, and to the President of Russia, Vladimir Putin, for his unwavering support of the forum. The Tatarstan leader noted that the program of "KazanForum" is very rich and includes more than 150 events involving business circles, government structures, development institutions, and experts. Despite global challenges and a tense international situation, Russia continues to strengthen ties with Muslim countries, Minnikhanov stated. According to him, the countries of the Organization of Islamic Cooperation remain among the key trade and economic partners for the country. He also reminded that 2026 has been declared the Year of Unity of Peoples in Russia – this should help strengthen interethnic harmony and preserve cultural diversity. "The theme of our discussion today – 'From Points on the Map to Growth Points: Uniting Technological and Financial Initiatives' – is extremely relevant. Points on the map are our cities, regions, and countries. But their true potential is revealed when they turn into growth points, where technology meets capital, sustainable progress is formed, and strong ecosystems are born, where innovations receive funding, are scaled through partnerships, and enter global markets," noted the President of the Republic. As one example of such cooperation, Minnikhanov cited Islamic financing. According to him, the global market for Islamic fintech companies is currently estimated at about $200 billion, and by 2029 it could grow to $340 billion. He also reminded that the experiment with partnership financing in Russia is gaining momentum: if earlier the volume of attracted funds was significantly lower, last year the figure increased sixfold – to 35 billion rubles. Another step was the opening in Kazan of the world's first representative office of AAOIFI – the Accounting and Auditing Organization for Islamic Financial Institutions – for the CIS countries.

      In Russia, nearly 2,200 growth points will become drivers of territorial development

      The Deputy Prime Minister of Russia and Chairman of the Organizing Committee of "KazanForum," Marat Khusnullin, in his speech talked about major infrastructure projects and spatial development of the country. He specifically addressed how, after 2022, Russia is restructuring its economy and logistics, strengthening cooperation with Eastern and Asian countries. Khusnullin stated that the basis for the country's development today remains the strategy for spatial development of Russia until 2030, with a forecast extending to 2036. According to him, the document takes into account the scale of the country, where more than 150 million people live and there are 153,000 populated areas. "Since 2022, the priorities for the country's development have changed: if earlier logistics and the economy were oriented towards the West, now we are more oriented towards the East, towards Asia," noted Khusnullin. Khusnullin also spoke about the new national project "Infrastructure for Life," which aims to improve the quality of life in the country. Within its framework, the authorities have identified 2,160 growth points – from small villages to large cities and regional capitals. According to the Deputy Prime Minister, it is in these territories, where about 73% of Russians currently live, that development should proceed faster than the average economic growth rates. Khusnullin also focused on housing construction and urban development. According to him, one of the key tools here remains comprehensive territorial development (CTD), which allows not only to renew the housing stock but also to simultaneously build social infrastructure and create a more comfortable urban environment. He also emphasized that major repairs of existing housing and programs for improving public spaces play an important role. Over the past six years, more than 600 million square meters of real estate have been built in Russia. And, "despite sanctions and external restrictions," last year the country saw a record volume of housing commissioning – 150 million square meters. "That's more than 1 square meter per person. We expect to continue maintaining high rates of housing construction, including individual housing construction, which is also showing record figures," added the Deputy Prime Minister.

      "KazanForum" strengthens dialogue within the Islamic world

      The Deputy Secretary-General of the Organization of Islamic Cooperation for Political Affairs, Yusuf Al-Dobai, emphasized that "KazanForum" remains an important platform for dialogue between Russia and the countries of the Islamic world. "The Organization of Islamic Cooperation is not just a regional organization; it is the second most significant international organization after the UN, uniting Arab, African, Asian, and European groups of countries," he stressed. Despite the scale of the union, OIC countries face serious challenges. These include differences in economic approaches and political systems, as well as ongoing conflicts in several states. According to him, all this complicates the development of closer economic cooperation; however, interaction between countries continues to expand. "Our main goal is sustainable growth and improving the welfare of the peoples of member states. This is only possible through the development of strategies and joint development plans. The Organization of Islamic Cooperation and its structures work to strengthen dialogue and economic interaction between countries," stated the OIC Deputy Secretary-General. He added that participation in "KazanForum" has been a positive experience for him, and cooperation with Tatarstan within the OIC will continue to develop and strengthen in the future.

      Partnership through technology and logistics

      The First Deputy Chairman of the Cabinet of Ministers of Kyrgyzstan, Daniyar Amangeldiev, in his speech talked about the need to create new economic ecosystems that would integrate investments, logistics, and modern financial instruments. He also emphasized that Tatarstan today remains one of the key platforms for international dialogue and the development of partnerships between countries. Kyrgyzstan is currently focusing on attracting investments, supporting exports, and implementing digital solutions. Amangeldiev stated that the republic is interested in expanding cooperation with Tatarstan and other Russian regions – primarily in the fields of technology, logistics, and finance. The Minister of Industry of the Arab Republic of Egypt, Khaled Hashem, congratulated Tatarstan and Kazan on their important international recognition. "I would like to specifically congratulate Tatarstan on the selection of Kazan as the cultural capital of the Islamic world for 2026. After visiting Kazan, I understand the reasons for this decision: the city's history, civilization, and modern development are felt at every step," he stated. Egypt views the development of cooperation with Russia and the countries of the Organization of Islamic Cooperation as one of its priorities, especially in the areas of industry, logistics, and transport corridors. According to him, these areas are currently forming new centers of growth for the global economy. Egypt is actively developing large infrastructure and logistics projects, including transport routes and industrial infrastructure, and is interested in expanding cooperation with international partners, including in the framework of joint production and investments. "During my visit to Russia and Tatarstan, I visited industrial enterprises and saw a high level of technology, deep localization of production, and integration of equipment with digital solutions. This confirms that we are already in a phase of transition from the exchange of goods to joint production and industrial integration," he concluded.

      Trust and cooperation – the main result of "KazanForum"

      Summarizing the plenary session of the forum, the President of Tatarstan, Rustam Minnikhanov, emphasized that the main unifying factor in the new global economy should be trust and readiness for long-term cooperation. He thanked the discussion participants and noted that the examples presented – from digital platforms and Islamic finance to logistics and industrial cooperation – confirm the broad potential for interaction. "The most important thing for us is trust. That's why we are here. We know little about each other, we have little information, but in every country, in every region, there are things that can be useful to all. And the second is the readiness to work together in the long term," said Minnikhanov. The President of Tatarstan noted that the countries of the Organization of Islamic Cooperation, as well as Russia and its regions, have significant economic and technological potential; however, its realization is only possible through the establishment of sustainable partnership relations. He also emphasized the role of Kazan as an international platform where practical connections between states and businesses are formed, and where the participation of Russian regions in joint projects is growing. "It is not us who should say thank you, but we thank you for coming and finding in Kazan that platform where we can communicate and find new movements forward," concluded Minnikhanov.

      Photo: Yuri Kochetkov / photo hosting agency RIA Novosti