Azerbaijan may soon become a regional Islamic financing center and play a significant role in boosting cooperation in Islamic banking with Persian Gulf and Central Asian countries. At the same time, interest in Islamic finance as a source of investment is high in the country.
Islamic financing is one of the fastest-growing segments of the global financial services industry worldwide. The International Bank of Azerbaijan (IBA), the country’s leading bank, has recently established an Islamic banking department, which is in the early stages of carrying out organizational and analytical work, IBA’s Director for Islamic Banking, Behnam Gurbanzada said………………………………………..Full Article: Source