Memorandum of understanding signed with Accounting and Auditing Organization for Islamic Financial Institutions at 13th KazanSummit

The meeting was organized on 19 May.

The memorandum was signed by Mohammad Majd Bakir, Director for Standards of AAOIFI, and Vice-Rector for External Affairs Timirkhan Alishev.

The document includes agreements in educational programs related to Islamic finance as standardized by AAOIFI. Our university is the first in Russia to establish such links with the organization.

“It’s a very significant document opening many opportunities of cooperation with Islamic finance universities in the Arabic and Persian world and in Central Asia. It basically establishes a unified standard and language of communication in Islamic finance for us,” says the Vice-Rector.

The memorandum comprises general phrasing for further interactions. KFU can now submit its programs for certification by AAOIFI, after which all such certificates and diplomas will be recognized around the world.

Mr. Bakir noted the importance of the memorandum and said that ties with Kazan University promote education in Islamic finance.