In the two months since the establishment of the Islamic Banking Department, the International Bank of Azerbaijan (IBA) has raised $60 million, Chairman of the Board Jahangir Hajiyev said.
“The money is attracted from the Islamic Development Bank, the Fund in the UAE and other financial institutions. Currently, negotiations are underway to attract new funds,” Hajiyev said. According to him, Islamic banking is a large reservoir in the world finance and banking, to which Azerbaijan has virtually had no access before………………………………………..Full Article: Source