Sat, Oct 25, 2014
A A A
Welcome bhaimia
RSS

Islamic Finance Briefing - Categorized | Banking, Emerging Trends more

Islamic banking gets a toehold in Azerbaijan

Posted on 22 June 2011

In a sign that Islam’s role in Azerbaijan may be slowly evolving, the country’s largest and only state-owned bank, the International Bank of Azerbaijan, plans this autumn to open a specialized branch offering limited Islamic banking services.
A prohibition on charging interest for loans is the major distinction between Islamic and Western-style banking. Instead of interest, Islamic banks take a stake in businesses to which they loan money, and share both the profit and loss with the client……………………………………….Full Article: Source

 
Article link

This post was written by:

Laxman - who has written 19163 posts on Opalesque Islamic Finance Briefing.


Contact the author

Comments are closed.

banner
October 2014
M T W T F S S
« May    
 12345
6789101112
13141516171819
20212223242526
2728293031