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2010-01-13 00:00:00

Standards of Islamic finance 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 in Bahrain in December 2009.

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

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