BAKU, Azerbaijan, February 17. The expansion of cooperation between the Central Bank of Azerbaijan (CBA) and the Islamic Development Bank (IsDB) in the areas of Islamic finance and sukuk issuance has been discussed, IsDB Group said in a post on its official X page, Trend reports.
IsDB Group President Mohammed Al Jasser reiterated the organization's dedication to bolstering Azerbaijan's Islamic finance infrastructure via strategic capacity enhancement and specialized technical support.
He further lauded Azerbaijan’s strategic allocations in IsDB Sukuk and advocated for sustained participation in the current fiscal year’s offerings.
To note, sukuk issuance refers to the process of issuing "Islamic bonds" in the Islamic finance markets, aimed at raising capital by governments or companies. Unlike traditional bonds, sukuk complies with the Islamic prohibition on interest.
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