16:47 - 23.10.2025

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October 23, Fineko/abc.az. At this stage, the most important transformation takes place in the direction of institutionalization.

ABC.AZ informs that Yunus Abdulov, the executive director of the Association of Banks of Azerbaijan, said this at the Islamic Financial Forum 2025 in Baku.

"Here I would like to particularly remind you about Financial Sector Development Strategy 2024-2026 of the Central Bank of Azerbaijan. It defines the deepening and diversification of financial instruments as a goal. In this context, it is planned to explore alternative areas of financing, including Islamic banking and digital lending, and to coordinate the legal and regulatory framework. Now banks have the opportunity to test Islamic financial products in a sandbox mode," he emphasized.