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2 clusters · 4 sources · 1 days · First seen · Last updated

Azerbaijan banking sector developments

Overview

The Azerbaijani banking sector is undergoing various structural and regulatory shifts. Financial experts have advised citizens to prioritize deposit insurance and noted that manat-denominated deposits generally offer higher returns than foreign currency options.

Simultaneously, the Central Bank of Azerbaijan has launched a pilot project within a regulatory sandbox to test Islamic finance products. This initiative includes the offering of specific instruments such as Ijarah and Istisna. To facilitate this, the Central Bank is proposing legislative amendments to the Tax Code and the Law on Deposit Insurance to ensure Islamic products remain competitive and to provide insurance coverage for these specific deposits.

Entities

Azerbaijan · Fuad Ibrahimov · Russia · Nargiz Shiraliyeva · Just Club LLC

Timeline

  1. [BUSINESS] 2 sources
    Azerbaijan launches pilot Islamic banking project

    Azerbaijan has launched a pilot project with two banks to test Islamic finance products, supported by proposed tax and insurance legislative changes.

  2. [BUSINESS] 2 sources
    Azerbaijan: Banking advice and new Russian-represented companies

    Experts provide guidance on bank deposit insurance in Azerbaijan, while new companies represented by Russian citizens are registered in the country.

Sources

bakupost.az · banker.az · en.trend.az · trend.az