The International Bank of Azerbaijan, the largest lender and the only state-owned bank in Azerbaijan, is still confident to promote Azerbaijan as an Islamic Banking hub in the region.

The International Bank of Azerbaijan, the major state-owned bank holding at least 40 percent of all bank assets in the country, is expanding its range of Islamic payment cards.

Director of the Islamic Banking Department at the International Bank of Azerbaijan, Behnam Gurbanzade’s exclusive interview for AzerNews

The International Bank of Azerbaijan -- a major state-owned bank holding at least 40 percent of all bank assets in the country -- has become the first among European banks to introduce the Islamic card on September 25.

The International Bank of Azerbaijan (IBA) is completing a transaction to draw $150 million as a syndicated Murabaha from UAE banks, IBA Islamic banking Department head Behnam Gurbanzade told Trend today.