Moody’s Investors Service has stated that Azerbaijan’s planned Islamic banking windows will create new income sources for local banks, APA-Economics reports.
According to the agency, the proposed regulatory amendments will strengthen banks’ profitability, funding, and liquidity profiles. Moody’s assessed this initiative as credit positive for the banking sector.
The agency noted that the changes will help diversify banks’ income structures and expand the range of products and services based on Islamic finance principles.
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