In connection with the emerging role of Islamic finance in the global financial market and its impact on global financial processes, the Centre for the Study of Islamic Finance (CSIF) was established in the structure of the Institute for Global Economic Policy, KNEU, in order to intensify the study of the peculiarities of the functioning of the Islamic finance industry, its problems, prospects and opportunities for cooperation for the development of the Ukrainian economy.

Scientific supervisor of the CSIF: Doctor of Economic Sciences, Professor Mozgovyi O. M.

Official website of CIFR:https://www.islamicfinance.in.ua

Goal: To study Islamic finance models as an alternative to the traditional financial system.

Objectives:

• Analysis of Sharia-compliant finance principles (interest-free, risk-sharing)

• Research on sukuk, mudarabah, takaful instruments

• Identification of opportunities for applying Islamic finance in Ukraine

Areas of work:Islamic banking system, ethical investing, financial inclusion, MENA markets

Upcoming Actions for the Development of the Center for Islamic Finance Research (CIFR):

• Writing monographs and articles for scholarly peer-reviewed journals as well as non-academic online publications;
• Organizing round tables and seminars at KNEU and other institutions on issues related to Islamic finance and Ukraine’s place in global investment flows from Islamic countries;
• Creating webinars and educational materials;
• Developing and promoting the official CIFR website;
• Establishing connections with reputable research and educational institutions to integrate into the Islamic finance industry.

Scientific Publications of CIFR:

• Institutional, Financial and Economic Challenges and Prospects of Cooperation between Ukraine and the MENA Region
  Edited by D. Lukianenko and Z. Lutsyshyn – Bielsko-Biała, 2020

• Subochev O.V., Subochev A.V. – Main Models of Functioning of Islamic Finance – Kyiv: State Higher Educational Institution “Kyiv National Economic University named after Vadym Hetman”, 2021.

• Yurkevych O., Subochev O., Mozhovyi O. – Model of Banking Activity in the Doctrine of Islamic Finance – Kyiv: Kyiv National Economic University named after Vadym Hetman, 2022.

• Yurkevych O.M., Zalizniuk V.P., Subochev O.V. – Factors of the Evolution of the Islamic Economic Doctrine in the Context of International Finance Development // Economy and the State. – 2021. – No. 8. – P. 73–78.

• Yurkevych O.M., Zalizniuk V.P., Subochev O.V. – Historical Prerequisites for the Emergence of Islamic Finance as a Component Segment of the Modern International Financial System // Investments: Practice and Experience. – 2021. – No. 15. – P. 12–18.
• Yurkevych O.M., Mozhovyi O.M., Subochev O.V. – Basic Models of Islamic Finance Functioning: A Critical View// Investments: Practice and Experience. – 2017. – No. 6. – P. 20–25. – [PDF] from the website: irbis-nbuv.gov.ua

• Yurkevych O.M., Mozhovyi O.M., Subochev O.V. – The Current State of the Islamic Finance Industry: Statistics of Qualitative Development // Investments: Practice and Experience. – 2017. – No. 7. – P. 8–14.

• Mozhovyi O.M., Subochev O.V., Yurkevych O.M. – The Essence and Development of the Doctrine of Islamic Finance // Economy of Ukraine. – 2018. – No. 2. – P. 65–78.