15:05 - 13.01.2026

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January 13, Fineko/abc.az. - (special news) – Innovations relating to halal banking products have been announced. They have been discussed for a long time, but are postponed each time. So, starting from next month, halal banking products are to be introduced in our country. But I wonder in which industries entrepreneurs working in these financial instruments will be able to benefit the most? We have addressed a question about this to Ruslan Atakishiev, the chairman of the Center for the Study of Economic Resources.

In his statement for ABC.AZ, he informed that from February 1, an Islamic banking product based on murabakha will appear in Azerbaijan, which will work exclusively at the expense of domestic finances. Listing the industries that will be engaged in the production of the product using the Murabaha method, the expert stated that they will not participate in the production of products prohibited by Islam: "Murabaha products can be acquired by entrepreneurs involved in construction, agriculture, food, and cleaning. However, these organizations and enterprises are not involved in the production of products specifically prohibited by Islam. Speech here is about prohibited (haram) products and their production. And this, as you know, pork or products that use pork meat, leather, wool, including cosmetics. In addition, murabaha cannot be used by businesses that use dead animals, their blood, or other products prohibited in the Islamic religion. It is not only the entrepreneurs I mentioned above who are prohibited from using halal banking products. This also applies to those who are engaged in the production of alcoholic beverages, the restaurant business, any kind of entertainment or recreation that does not comply with halal rules, as well as massages and pools where men and women use them together. Entrepreneurs engaged in such activities cannot use murabaha.

Murabaha is also prohibited for entrepreneurs who are engaged in the production of weapons, tobacco products, as well as the supply and production of cigarettes, hookahs and electronic hookahs.

That is, everything that is forbidden in Islam, these products, or the businesses that produce these products cannot use this opportunity. In all other sectors where raw materials or equipment are required, use is possible.»

By Elmir Murad