July 31
IDB approves support program for Islamic banking in Azerbaijan
Islamic Development Bank (IDB) has approved a technical assistance program for the government of Azerbaijan in the development of draft amendments and additions to the legal framework of the country in the field of Islamic banking, Director of the Islamic Banking Department of the International Bank of Azerbaijan (IBA) Behnam Gurbanzade said.
"At this stage, the contract for provision of technical assistance is being coordinated with the Cabinet of Ministers and the Islamic Development Bank," he said.
August 1
Azerbaijan introduces new procedure for declaring goods and vehicles
The goods and vehicles transported through the customs border of Azerbaijan will be declared under the new rules from November 1, 2014.
The rules approved by the Cabinet of Ministers' decision were published in the official press.
The rules apply to the goods and vehicles imported and exported from the country.
For individuals passing through the customs border, a system of "green" and "red" channels will be created to simplify the procedure of declaring goods.
"Green" channel can be chosen by physical entities transporting goods which are not subject to mandatory written declaration. In other cases, physical entities must follow the "red" channel. At the same time, they must deliver a simplified declaration in a written or an electronic form.