Islamic banking comes to Azerbaijan

According to Orkhan Mammadov, Chairman of the board of Azerbaijan’s Agency for the Development of Small and Medium-sized Enterprises (SMEs), a platform for introducing Islamic banking in Azerbaijan is ready, Trend news agency reports.

The statement was made at a news conference by Azerbaijan’s Ziraat Bank dedicated to Azerbaijani-Turkish cooperation in developing SMEs.

“We expect that the new parliament will pay attention to this and by the end of the year all work in this direction will be completed,” he said and expressed his confidence that Islamic banking will be a very useful tool for alternative sources of income for the national economy.

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