AAOIFI Centre and Mezon Kengashi Sign Agreement on Official Uzbek Translation of AAOIFI Shariah Standards
Kazan, 17 May 2026 – The AAOIFI Centre for Islamic Finance Development and Mezon Kengashi LLC – a leading organisation in the Republic of Uzbekistan in the field of Shariah financial advisory – have signed an agreement on the preparation of the official Uzbek translation of the AAOIFI Shariah Standards. The project, covering the latest official Arabic-language edition of the standards – 61 Shariah standards totalling approximately 1,200 pages – will be translated directly from Arabic into Uzbek.
The agreement builds on the strategic partnership established between AAOIFI and Mezon Kengashi on 26 December 2025. Under this partnership, the parties cooperate in training, professional certification, regulatory standardisation and professional knowledge dissemination. The translation will be carried out in coordination with AAOIFI and in accordance with its authorisation and quality assurance procedures.
The initiative comes at a pivotal moment for Uzbekistan’s financial sector. On 27 March 2026, the President of the Republic of Uzbekistan signed Law No. O’RQ–1126 “On Amendments and Additions to Certain Legislative Acts of the Republic of Uzbekistan Aimed at Introducing Islamic Banking”, which establishes the official legal and licensing framework for Shariah-compliant operations and enters into force on 29 June 2026. The availability of an authoritative Uzbek translation of the AAOIFI Standards is essential for the effective and consistent implementation of this regulatory framework.
The official Uzbek-language edition will provide regulators, the Central Bank of the Republic of Uzbekistan, commercial banks, the legal community, educators and financial sector professionals with direct access to the international standards framework governing Islamic financial products and services. It will promote consistent application of Shariah standards in the national market, their integration into regulatory and supervisory practices, harmonisation with internationally recognised standards, and the development of national expertise. Furthermore, the project will create additional opportunities for Uzbek specialists to obtain internationally recognised AAOIFI professional qualifications in their native language.
The translation work is expected to take approximately six months and will be carried out by a multidisciplinary team comprising Shariah experts, professional translators, editors, and legal and financial specialists. Several project participants hold AAOIFI professional qualifications, including CSAA, CPSS and CIPA. The project encompasses not only linguistic translation but also unification of Shariah terminology, legal and regulatory review, multi-level editorial checks and quality assurance procedures to ensure accurate correspondence with the original Arabic text and terminological consistency throughout the document.
Muzaffar Khusnidinov, General Director of Mezon Kengashi LLC, commented:
“The AAOIFI Shariah Standards are the foundation of trust in Islamic finance. Making them available in Uzbek removes one of the last systemic barriers to the development of a fully-fledged and reliable Islamic finance ecosystem in our country, providing regulators, banks and professionals with an authoritative framework during the period when the new legislation enters into force.”
Amir Al Musa, Director of the AAOIFI Centre for Islamic Finance Development, added:
“This agreement reflects the Centre’s mission to facilitate the adoption and localisation of AAOIFI standards in the CIS and Central Asia. Uzbekistan is one of the most promising Islamic finance markets in the region, and the preparation of the official Uzbek edition of the standards will be an important step towards sustainable and properly regulated industry development.”
About Mezon Kengashi
Mezon Kengashi LLC is a leading organisation in the Republic of Uzbekistan in the field of Shariah financial advisory and serves as an institutional bridge between national market participants and international standard-setting bodies. The company’s mission is to contribute to the development of Islamic finance in Uzbekistan and Central Asia through Shariah governance development, capacity building, regulatory engagement and professional knowledge dissemination.
Website: www.mezonkengashi.uz
About AAOIFI and the AAOIFI Centre for Islamic Finance Development
The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) is a leading international non-profit standard-setting organisation for the global Islamic finance industry. Established in 1991 and headquartered in the Kingdom of Bahrain, AAOIFI’s standards in Shariah, accounting, auditing, ethics and corporate governance are applied or recognised by regulators and financial institutions in over 45 countries worldwide.
The AAOIFI Centre for Islamic Finance Development, located in Kazan (Republic of Tatarstan), is a regional hub of AAOIFI, facilitating the adoption, consistent application and localisation of AAOIFI standards in the Russian Federation, the CIS and the wider region.
Website: cis.aaoifi.com
Media Contacts
مركز أيوفي لتطوير التمويل الإسلامي
Email: info@cis.aaoifi.com
Phone: +7 (843) 598-40-21
Mezon Kengashi LLC
Email: info@mezonkengashi.uz
Phone: +998-50-700-7799
