17:44 - 16.06.2026

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June 16, Fineko/abc.az. "Islamic financial products are developing in Azerbaijan. For us, Islamic finance is not just an alternative financial model, it is a model based on partnership, risk sharing and investment."

ABC.AZ reports that Deputy Finance Minister Anar Kerimov said this during his speech at the Halal Economy Leadership Forum (HELF) and AZHAB Forum 2026, held in Baku as part of the annual meetings of the Islamic Development Bank (IDB) Group.

According to Kerimov, development of Islamic finance does not just mean the creation of a new market segment:

"For us, this is part of a broader effort to diversify, financially integrate and support the private sector."

"Today, takaful - Islamic insurance services already exist in Azerbaijan. Financial institutions have started offering Islamic banking products. Murabaha and mudaraba are not just attractive Islamic financial instruments, they are already being used by some banks," the deputy minister said.