The development of Islamic finance in Azerbaijan, including banking and capital market instruments, could create an additional channel for attracting international financing, Chairman of the Central Bank of Azerbaijan Taleh Kazimov said, APA-Economics reports.
He made the remarks during a session titled “Cooperation in international finance: Strengthening partnerships for economic growth” held as part of the Second Azerbaijan International Investment Forum in Baku.
Taleh Kazimov noted that Islamic finance could enable Azerbaijan to establish ties with a broader investor base.
According to Taleh Kazimov, diversifying financing opportunities could not only increase the resilience of financial flows but also expand the financial system’s capacity to support investment at different stages of the economic cycle.