Using Foreign Experience for the Issuance of Syndited Sukuk in Russia

Relevance. The relevance of the study is determined by the introduction of the federal law on partnership (Islamic) financing in Russia, which opens up opportunities for Russian organizations to implement Islamic financing instruments in their practice, and syndicated sukuk are the most interesting instrument for financing large projects. Purpose. The object of the article is syndicated sukuk, and the subject of the study is foreign experience in issuing syndicated sukuk by Islamic financial organizations. The purpose of the study is to identify the possibilities of using foreign experience in issuing syndicated sukuk for Russian partnership financing organizations. Methods. Using such general economic methods as comparison, contrast, analysis and synthesis, as well as logical and systemic approaches, the authors studied the most successful issues of syndicated sukuk by Western and Eastern countries. Results. Based on the results of the study, steps were proposed that Russia needs to take to create conditions for the introduction of syndicated sukuk into the practice of Russian partnership financing organizations. Among these steps, the most significant are the following: adaptation of legislation, creation of infrastructure for Islamic finance, education and training of personnel, formation of international cooperation, work with potential investors, creation of Sharia supervision, launch of pilot projects. Scientific novelty. The scientific novelty of the study lies in substantiating the possibility of using foreign experience of issuing syndicated sukuk in the identified areas by Russian partner financing organizations, which will allow Russian partner financing organizations to attract investments from the eastern countries of the Arab world.