Azernews.Az

The International Bank of Azerbaijan (IBA), as the country's leading bank and the pioneer in the introduction of Islamic banking in the region, is participating in the third Global Islamic Finance Forum (GIFF) at the invitation of Bank Negara Malaysia, the bank said Wednesday.

The GIFF is being held in Kuala Lumpur on September 18-20. GIFF 2012 is titled "Internationalization of Islamic Finance: Bridging Economies" in recognition of the tremendous international prospects for the thriving Islamic Finance industry.

"We are here to introduce our country and give more detailed information about the banking sector of Azerbaijan," Director of Islamic Banking at IBA, Behnam Gurbanzada, said. "Most of participants are interested in Azerbaijan as one of the fastest-growing economies in the world. They see a lot of opportunities for cooperation in the financial sector. Islamic banking is not an exception. Today Malaysia plays a very significant role in the development of Islamic banking in the world. We can use the experience of our Malaysian colleagues and develop Islamic banking in Azerbaijan."

GIFF 2012 brings together financial industry practitioners, regulators, Shariah scholars and business communities from around the globe to discuss the prospects for Islamic finance in bridging economies and strengthening connectivity.