In Azerbaijan, sharia-compliant banking currently accounts for a marginal share of the Ajerbaijani financial sector. Recent estimates expect that Islamic financial assets in Azerbaijan could reach more soon.
Azerbaijan is preparing the legal framework for Islamic finance products such as the issuance of Islamic bonds (Sukuk) and in order to help financing Azerbaijan's SME it will promote Sukuk, Takaful (Islamic insurance) and halal microcredit.
Currently, Azerbaijan has a number of fully operational Islamic banks which serve retail and islamic corporate banking offering halal financing products such as Ijara, Ijara-wa-iqtina, Mudaraba, Murabaha and Musharaka.
AZERBAIJAN ONLINE SHARIA BANK