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Regular version of the site
Contacts

17 Malaya Ordynka, building 1, room 115

Phone: +7(495)772-95-90*23171

email: irs@hse.ru

Administration
School Head Olga V. Volosyuk
Deputy Head Evgeny Kanaev
Assistant Murad Sadygzade
Coordinator of student project activities, Senior Lecturer Elmira Imamkulieva
Alexandra Khiteva
Manager Alexandra Khiteva
Book
Africa and the Formation of the New System of International Relations—Vol. II Beyond Summit Diplomacy: Cooperation with Africa in the Post-pandemic World

Vasiliev Alexey M., Degterev Denis A., Shaw T. M. et al.

Vol. II: Beyond Summit Diplomacy: Cooperation with Africa in the Post-pandemic World. Cham: Springer, 2023.

Article
In Chase of Vanishing Poles: Gaps in Conceptualization of International Politics

Timofei V. Bordachev.

Russia in Global Affairs. 2024. Vol. 22. No. 1. P. 58-71.

Book chapter
Successful Practices of Artificial Intelligence Technologies in Educational Activities

Kharina O.

In bk.: Towards a Hybrid, Flexible and Socially Engaged Higher Education. Proceedings of the 26th International Conference on Interactive Collaborative Learning (ICL2023), Volume 1. Iss. 1. Cham: Springer, 2024. P. 511-519.

Working paper
Towards A Common Vision? Populist Radical Right Parties’ Positions On The Eu Common Foreign And Security Policy Towards Russia

Shein S., Ryzhkin E.

Political Science. PS. Высшая школа экономики, 2022. No. 89.

Creative Conversations or a Scholarly Debate on the Middle East Finance

On Tuesday, October 27, an online meeting was held with Svetlana Babenkova, Senior Researcher at the Center for Arab and Islamic Studies, IVRAN, Ph.D., MBA. The discussion was organized  as part of a series of online expert seminars “Contemporary Area Studies” of the Department of Foreign Regional Studies, Faculty of World Economy and International Affairs, HSE University, with the assistance of the Russian Middle East Association.

The meeting was opened and moderated by Elmira Imamkulieva, senior lecturer at the Department of International Regional Studies. Dr.Imamkulieva said that on the basis of the HSE University and the Department of Foreign Regional Studies, a university-wide elective course was launched focusing on the theory and practice of Islamic banking in the 21st century. Also, a project on Islamic banking has already started in cooperation with the University of Tehran. The projects aim to develop a regulatory framework for research in Islamic finance, developing comprehensive understanding of Islamic finance. During the seminar, Elmira Imamkulieva and Svetlana Babenkova presented the interim results of these projects.

During the event, the expert extended on the role that Islamic finance plays in the contemporary world. The following issues were considered:

  • reasons for the active development of the Islamic financial system;
  • its performance during the global financial and economic crises;
  • the reasons for the emergence of "Islamic windows" in European banks, etc.

At the beginning of the discussion, Svetlana Babenkova noted that understanding the financial system of any Eastern country is impossible without understanding the language, history and culture of the region, and most importantly, without understanding the mentality of these nations. In the understanding of ordinary people, stereotypes imposed by the media which do not reflect the depth and comprehensiveness of Eastern mentality, often prevails.

The expert explained in detail how Islam, or more specifically, the history of the formation of Islam as a religion, influenced on the financial system, and how this was subsequently reflected in religious texts. Thus, Islamic finance is based on the concept of “justice”: a person should not demand more than he lent.

Svetlana Babenkova also focused on the term “Islamic finance”; for many people far from the Middle East studies, the term “Islamic” is associated with negative connotations and Islamophobia. Because of this, thus many experts suggest the term “Arab finances” instead. The expert noted that in countries where the main religion is Islam, except Iran, there is no 100% participation of Islamic finance.

Describing the activities of Islamic banks, the expert emphasized that they, like any other banks, primarily seek to make a profit. Therefore, the main problem of Islamic banks concerns their liquidity. Other problems of Islamic finance are the shadow economy and black market, corruption and money laundering. In addition to Sharia compliance, Islamic banks must comply with local laws, which significantly slows down their implementation and development.

The expert shared her personal impressions regarding the introduction of “Islamic windows” in Russian banks. Also, she shared her views on the attitude of believers towards such banks.

For video, please follow the link: https://youtu.be/E1IqDGEiVXs