Azerbaijan and ICCD discussed the future of Islamic finance“/>
Azerbaijan and Islamic Chamber of Commerce and Development (ICCD) discussed the prospects for the development of Islamic finance.
As Day.Az reports with reference to Trend, this is stated in the publication of the Chairman of the Central Bank of Azerbaijan on the social network Kh.
The publication notes that a meeting was held with a delegation led by the ICCD Secretary General and Director General Albaraka Bank Group of Yusif Hasan Halavi.
“During the meeting, the parties discussed the possibilities of potential cooperation with the banking sector of Azerbaijan, as well as the work done and prospects for the development of Islamic finance in the country,” the publication says.
It should be noted that in April of this year, Rabitabank OJSC and the International Islamic Trade and Finance Corporation (ITFC) signed an agreement for the development of the private sector in the amount of 15 million US dollars.
The agreement provides for the establishment of commercial financing facilities to meet the diverse needs of private sector clients while supporting SMEs in accordance with Islamic financial principles.