The platform for introducing Islamic banking in Azerbaijan is ready, said Orkhan Mammadov, chairman of the board of Azerbaijan’s Agency for the Development of Small and Medium-sized Enterprises (SMEs).
Mammadov made the remark at a press conference by Azerbaijan’s Ziraat Bank dedicated to Azerbaijani-Turkish cooperation in the development of small and medium-sized enterprises (SMEs), Trend reports from the event Feb. 27.
Mammadov noted that in this direction, the Azerbaijani government has set certain tasks for the development of Islamic banking, and all of them have been completed.
“We expect that the new parliament, having fully started work, will pay attention to this and by the end of this year all work in this direction will be completed,” said the agency chairman.
Mammadov expressed confidence that Islamic banking will be a very useful tool for alternative sources of income for the national economy.
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