15:11 - 23.05.2025

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May 23, Fineko/abc.az. Separate Islamic banks may be operational in Azerbaijan by 2030.

ABC.AZ informs, quoting expert Ruslan Atakishiev, that work is currently underway on the occasion.

The expert, who did not disclose the names of the banks, said that the so-called "windows" system would be implemented at the first stage:

"These banks initially launched the windows system as branches. Applications from financial institutions wishing to present an Islamic Financial Product within the sandbox are also being considered. It is hoped that a tool corresponding to the structure of the sandbox of the Central Bank will be able to work. If this stage of testing is successful, it will create conditions for the expansion of the window models, which may eventually become the basis for the formation of individual banks."

By Elmir Murad