Black is facing allegations that he broke betting rules.
The midfielder was this week hit with a Scottish Football Association charge involving 160 alleged breaches of rules on gambling stretching back more than seven years.
The issue is now in the hands of his lawyers but will not affect his playing career at Rangers in the meantime.
Asked if he has any issues selecting Black, McCoist said: "Not at all.
"Ian Black will certainly be in the squad for Friday night against Airdrie."
A zero tolerance policy is in place in Scotland, which restricts players from staking money on any football matches anywhere in the world.
But McCoist believes more effort is needed in making those involved in the game aware of the rules and regulations.
He said: "What I'm asking for is for everybody to get around a table, whether it's the SFA, the players' union, bookmakers, whoever.
"Let's all sit around a table and find out what's allowed, what's not allowed and then we can start again.
"That's all I can say because the rest of it is in the hands of Ian's lawyers."