The use of an interest free financial system could prevent some economic cataclysms. “Though this system is only 40 years old, a positive tendency in the development of an Islamic interest free financial system is to be considered. Reviewing the possibilities of using such a system is an important factor for Azerbaijan, where 90 per cent of the population are Muslims”, Jeyhun Nagiyev, the director general of Ansar Leasing said.
Nagiyev added that for development of this financing direction in Azerbaijan the issue has to be considered both not only from the legislative point of view, but also from the scientific one………………………………………..Full Article: Source