An important statement on cooperation in the framework of the development of Islamic finance in Russia
During the 19th Annual Conference on Islamic Banking and Finance, a Memorandum of Cooperation between AAOIFI and the Central Bank of the Russian Federation was officially signed in the presence of the Head of Tatarstan, Chairman of the Strategic Vision Group "Russia — the Islamic World" R. N. Minnikhanov.
This agreement provides for the entry of the Central Bank into the AAOIFI organization, which will create a basis for strengthening the regulatory framework and will allow us to jointly develop more efficient and standardized financial processes that meet the requirements of stakeholders both in the Russian Federation and abroad.
The importance of this Memorandum of Cooperation cannot be overestimated, given the dynamics of global financial markets and the increasing role of Islamic finance in the global economy. This agreement not only confirms the deepening partnership between AAOIFI and the Central Bank of the Russian Federation, but also opens up new opportunities for integrating best practices and standards in the field of financial regulation.