Makhachkala, December 3, 2014. Dagestan ministry of economy and regional development discussed a draft plan for adapting elements of Islamic economics to business projects under implementation in the republic, a source in the ministry told RIA "Dagestan".

The meeting was attended by deputy minister G. Sultanov and N. Chichvarin, deputy minister of trade, investment and entrepreneurship M. Mussayev, the spokesman for the Dagestan Spiritual Board of Muslims and Imam of the Makhachkala Central Mosque M. Sahaduev, CEO of "La Riba Finance" M. Aliskerov, member of the Dagestan Head’s Expert Council and director of the Laboratory of Islamic economics of Dagestan State Institute of National Economy S. Sahidov.

Participants put forward their ideas and identified areas of cooperation between Dagestan executive bodies and religious organizations to improve and enhance the work they do.

Considering the experience of establishing and developing Islamic financial institutions in Russian regions, the recommendations of the Dagestan Head’s Economic Council, suggestions by the ministry of trade, Dagestan Committee on Freedom of Conscience and Cooperation with Religious Organization and other participants, the ministry of economic development came up with a blueprint for adapting elements of Islamic economics to business projects being implemented in the territory of Dagestan.