For four years the Russian Mufties Council has been cooperating with
the Islamic Development Bank in providing interest-free educational loans. Each
year, the Bank allocates 16 quotas of the Russian youth in the age of 24. Today,
interest-free educational loans have received 45 students of metropolitan and
regional universities. Today, the IBR got for consideration documents of 18 students
from Moscow, Samara, Dagestan, Saratov, Kazan and Penza. Initially, the program of the Islamic Development Bank aims to
strengthen the Muslim community by increasing the level of education of its
members, development projects and programs aimed at solving social problems and
to promote solidarity in society. Recipients of interest-free loans for tertiary education in
technical, medical and other knowledge-based industries, get these funds subject
to repayment, but the returned funds do not come to the bank, and there is
a specially created account, and all money will be spent on the development of
various social programs for the benefit of the
community.