12.09.2012 - IBA signs first contract in frame of Islamic window

International Bank of Azerbaijan (IBA) announced signing of the Commodity Murabaha Agreement with Islamic Corporation for Development of Private Sector (ICD) for amount of $20 million. "Commodity Murabaha means sale of certain specified commodities, through a metal exchange, on a cost plus profit basis" Director of Islamic Banking in IBA Behnam Gurbanzadamentioned...............................................Full Article: Source

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