Azerbaijan is taking its first concrete steps toward the implementation of Islamic finance, marking a potentially transformative moment for the country's financial landscape.
The introduction of Islamic bonds, or sukuk, is at the heart of this initiative, through a project spearheaded by the Islamic Development Bank Institute (IsDBI) and funded by an Islamic finance grant.
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Azerbaijan begins careful integration of sukuk into its financial system.
Author's summary: Azerbaijan integrates sukuk into finance.