During the forum, Dagestan's Prime Minister, Abdulmuslim Abdulmuslimov, engaged in a productive meeting with Tagir Karimov, First Deputy Chairman of the Board at Ak Bars Bank. This collaboration signifies Dagestan's commitment to leveraging the potential of Islamic finance. The republic initiated active partnership with Ak Bars Bank earlier this year, introducing various financial tools designed to optimize partner financing opportunities. This led to the opening of Ak Bars Bank's first branch in Kaspiysk in May 2025.

Furthering this initiative, the bank intends to collaborate with the Muftiate of Dagestan to conduct a joint review of financial products. This effort aims to enhance trust and confidence in Islamic financial instruments among the Muslim community.  

As one of four pilot regions in Russia spearheading the development of a unified legal framework for Islamic finance, Dagestan plays a crucial role. Over 30 entities are participating in this experiment, encompassing credit institutions and the RD Partner Financing Fund.  Key fundraising mechanisms include settlement accounts, loan agreements, capital contributions and trust management.