Translation of standards

From the moment of achievement of the arrangement with the head of Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) about the translation into Russian of shariah standards of the Organization, RAEIF on a constant basis gives support to Russia Muftis Council in an expert assessment of the texts of standards that being translated from the point of view of compliance to shariah requirements, terminology of Russian law and the head of the organization publishing them (at that time - doctor Mukhammad Nedal[ A-Shaar):

"AAOIFI welcomes the initiative of Russia Muftis Council for the translation and publication of our standards in Russian... We hope that the publication of standards in Russian will help to understand that the benefits of Islamic financing can be fully realized in the jurisdiction of the country where they speak Russian language. Using AAOIFI’s standards reflecting the concept and essence of Islamic financing will also increase the level of consumer confidence in Islamic financial products and services".

The editorial board of each translated and published standard includes at least 3 experts of RAEIF from various areas, depending on the subject of standard.

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