CBA may start introducing Islamic banking in Azerbaijan

The Central Bank of Azerbaijan is conducting research on the introduction of Islamic banking in the country, banks.az quotes CBA chairman Taleh Kazimov as making this statement during his recent meeting with expert economists.

"The Central Bank is currently interested in the level of demand for Islamic banking in the country. Research in this area continues. The practice of using Islamic banking is being studied not only among Muslims, but also among non-Muslims," Kazimov said.

He added that the introduction of joint insurance is not on the agenda yet. He noted that currently there is a lot of work to be done in the field of traditional insurance. The central bank is more engaged in the development of this insurance.