Islamic Development Bank ready to assist to creation of a bank, functioning by Shari'ah laws, in Azerbaijan

He said the initiative of creation of such a structure should come from the government of Azerbaijan, in particular, the Ministries of Economic Development and Finance.

"We have discussed this issue with the National Bank of Azerbaijan and we voiced readiness to provide technical assistance to creation of a bank, working by Shari'ah laws. As far as we know, Azerbaijan already has such a bank, but it has not fully entered the market as an institute, functioning by principles of Islamic banking, as the country has no legal basis for it.

As far as we know, this bank is mainly engaged in operations with securities. But we are ready to assist in creation of a real bank, working by Shari'ah laws", noted Abidin.

/Day.Az/