The Moscow Islamic Institute and the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) signed an agreement on registration of candidates for AAOIFI scholarship programs. The document was signed by Doctor of Theology, professor Damir Mukhetdinov (first deputy chairman of the RBMRF, principal of the MII) and Farhan Noor (executive director for Standards Implementation and Capacity Building of AAOIFI).

According to the signed document, the MII selects candidates for scholarship programs such as Certified Islamic Professional Accountant (CIPA), Certified Shariah Advisor (CSE), Certified Shariah Auditor (CSA), Certificate of Proficiency in Financial Accounting Standards (CPFAS) and Certificate of Proficiency in Shariah Standards (CPSS). In addition, the MII provides sales and marketing services for AAOIFI publications at its premises or online resources; and conducts AAOIFI exams, especially for registered candidates.

The signing ceremony was attended by AAOIFI Senior Manager for Standards Implementation and Regulatory Relations Siddiq Ahmed Seyed, AAOIFI Shariah and Legal Advisor, Associate Professor Dr. Abdurrahman Abdullah, Vice-principal of MII Rishat Saidashev, Dean of the Faculty of Theology at MII Ruslan Baishev, and Ilyas Ganiev, Executive Secretary of the Ulema Council of the RBM of the Russian Federation.

The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) was established on March 27, 1991 in Bahrain. The purpose of the organization is to develop accounting, auditing, management, ethics and Shariah standards for Islamic financial institutions.