Russian-language edition of AAOIFI Shariah Standards published
Bahrain, February 17, 2026 — With the support of the EDB, the official Russian-language translation of Shariah standards, prepared by Centre for Islamic finance development (AAOIFI), has been published. This is a the key reference regulating Islamic finance products.
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. This is the third edition of the full text of the Shariah standards in Russian for the Eurasian Region and the second edition of the standards approved before 2021.
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 the CIS region is an important emerging market for Islamic finance that can become a model for the global market," - Omar Mustafa Ansari, Secretary General of AAOIFI.
Facts and Figures:
- Growth forecast: +15-30% annually.
- Standards cover: key Islamic finance contracts, security agreements, debt settlement issues, banking operations and transactions, zakat and waqf, and other areas.
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.
Additional Information:
The Eurasian Development Bank (EDB) is a multilateral development bank investing in Eurasia. 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.
The EDB is implementing three mega-projects as part of its 2022–2026 Strategy: the Eurasian Transport Network, the Eurasian Agricultural Goods Distribution System and the Central Asian Water and Energy Complex.
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.
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