IslamicFinance.de

As part of its efforts to promote Islamic finance around the world, the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) secretary-general Dr Mohamad Nedal Alchaar, and the Grand Mufti of the Shura Council of Russian Muftis, met in Moscow with the Russian Association of Experts in Islamic Finance.
The purpose of the meeting was to enhance the prospects of the development of Islamic financial institutions and products in Russia and the application of AAOIFI standards to regulate them.
Dr Alchaar highlighted the importance of establishing a suitable legal and regulatory environment to help accommodate and promote the Islamic financial industry in Russia, noting that the Islamic sukuks in particular have a promising market in the Russian economy.