Russian-language edition of AAOIFI Shariah Standards published

19 February 2026

PR/05/2026

Manama, Kingdom of Bahrain, 19 February 2026 - AAOIFI Centre for Islamic Finance Development announces the release of the official Russian-language translation of Shari'ah standards, the key reference regulating Islamic finance products. This is the third edition of the full text of the Shari'ah standards in Russian for the Eurasian Region and the second edition of the standards approved before 2021.

The publication was supported by the Eurasian Development Bank, the Sheikh Zayed Fund for Entrepreneurship and Innovation, and Zaman Bank.

The Russian-language edition is a fundamental reference for banks, investment funds, fintech companies, researchers, and other stakeholders in the CIS and Central Asian countries striving to fully comply with global Islamic finance standards.

The translation was completed, meeting the pre-defined AAOIFI requirements. The new edition covers the same range of standards (1 through 61) as the previous edition, and also includes a number of stylistic clarifications.

Part of the print run will be distributed among libraries and non-profit organizations.

"The Russian translation of AAOIFI standards is a bridge between the international Islamic finance market and the growing and promising markets of the Eurasian region. We are working to ensure our standards are accessible worldwide, and we believe the CIS region is an important emerging market for Islamic finance that has huge potential for growth," - Omar Mustafa Ansari, Secretary General of AAOIFI.

Facts and Figures:

1. Growth forecast: +15-30% annually.
2. Standards cover: key Islamic finance contracts, security agreements, debt settlement issues, banking operations and transactions, zakat and waqf, and other areas.

Development Bank:

The EDB is a multilateral development bank. For 20 years, the Bank has worked to strengthen and expand economic ties and foster comprehensive development in its member countries. By the end of December 2025, the EDB's cumulative portfolio comprised 326 projects with a total investment of US $19.6 billion. Its portfolio consists principally of projects with an integration effect in transport infrastructure, digital systems, green energy, agriculture, manufacturing and mechanical engineering. The Bank adheres to the UN Sustainable Development Goals and ESG principles in its operations.

According to the EDB's report "The Future of Islamic Finance in Central Asia", Islamic banking assets in Central Asia are projected to grow to USD 6.3 billion in 2033.

About The Sheikh Zayed Fund for Entrepreneurship and Innovation:

The Sheikh Zayed Fund for Entrepreneurship and Innovation is a pioneer of Islamic finance in the Chechen Republic and one of the most active contributors to the development of the Islamic finance sector in the Eurasian market. The Sheikh Zayed Fund has financed more than 600 small and medium-sized business projects using Islamic finance instruments, including Murabaha and others. The Fund regularly conducts training programs on entrepreneurship and Islamic finance and actively cooperates with key market participants to foster the development of the partnership capital market.

About Zaman Bank

Zaman Bank is a leading Islamic bank in Kazakhstan offering digital solutions within a wide range of Islamic financial products for individuals and legal entities.

About AAOIFI:

AAOIFI is an international, independent standard setting organization for Islamic Finance, headquartered in the Kingdom of Bahrain. It has over 200 standards that are used in over 50 countries.

Key events in 2025 in the region:

1. May 2025 - AAOIFI's first offsite conference in Kazan
2. December 2025: Opening of the AAOIFI Centre for Islamic finance development in Kazan - the organization's first office in CIS and Central Asia.

Media Contacts:

AAOIFI Centre for Islamic finance development in Eurasian region

Email: [email protected] | Tel.: +7 (843) 598-40-21.

For inquiries on ordering standards:

www.ifexpert.ru