15:49 - 23.10.2025

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October 23, Fineko/abc.az. Azerbaijani banks are ready for Islamic banking, and the creation of an institutional base needs to be completed.

ABC.AZ informs that Yunus Abdulov, the executive director of the Association of Banks of Azerbaijan (ABA), made this statement at the Islamic Financial Forum 2025 in Baku.

According to Abdulov, a survey conducted in the 1st half of this year showed that banks' interest in Islamic finance is not only theoretical, but also practical: "Already at that time, some banks were working on financial solutions in accordance with Sharia, while the interest was focused on specific product groups. The main message is that the interest of banks is stable, the customer segments are clear, and the necessary knowledge base for the first wave of application is already there. In other words, the market is ready - now it is necessary to complete the creation of an appropriate institutional framework."