Sharia Islamic finance standards will appear in Russian

Shariah standards for Islamic financial products issued by the Accounting and Audit Organization for Islamic Financial Institutions (AAOIFI) will be published in Russian.

This agreement was reached during the visit of the delegation of the Working Group of RMC on Alternative (Islamic) financial institutions and products to Bahrain in December 2009 where the delegatio met with Dr. Nedal Alchaar, AAOIFI general secretary.

The first standards for Murabaha transactions (buying and selling at a premium), Sukuk (Islamic securitization) and takaful will be published in February 2010.

13.01.2010