| For the development of Islamic banking in Azerbaijan it's planned to use technical support of the Islamic Development Bank (IDB). Initially, the development of amendments in national legislation to expand the use of banking services on the Shariah principle was envisaged by the consultant of the International Bank of Azerbaijan (IBA) - a consortium of companies Salans, KPMG, Pinsent Masons and the Dar al Shariah.
However, as the IBA told Trend on Friday, the consultant will prepare its own vision and recommendations, and a further phase of the project will be implemented in conjunction with the Central Bank of Azerbaijan and the IDB, as this financial institution is the flagship of Islamic banking worldwide...............................................Full Article: Source
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