Financial and Banking Council offers to unite efforts to promote Islamic banking in CIS
Azerbaijan, Baku, Dec 3 /Trend N.Ismailova/
The Financial and Banking Council (FBC) of the CIS offers to set up a working group to introduce Islamic banking, Anatoly Kazakov, Chairman of the Coordinating Board of the CIS FBC said at the Fourth Baku International Banking Conference of the CIS member states on Friday.
"Today enough liquidity lacks in the CIS, but Islamic banking has surplus liquidity. Therefore, we want to ask the International Bank of Azerbaijan (IBA) to become a regional center on Islamic financing in the CIS. It will be useful for us to unite our efforts and annually promote this issue," Kazakov said.
Kazakov said work on creating Islamic banks will be carried out parallel in Russia and Azerbaijan.
Kazakov also proposed to discuss expanding the FBC, which includes only 15 major CIS banks at persent. "We should unite a great number of banks and increase the efficiency of project implementation," Kazakov said.
"We should expand our organization and this issue should be put before the heads of our governments. We need to expand our ranks and attract new participants to become the real power on the post-soviet territory. According to experts, we have a good perspective to quite successfully pass these years with a positive growth and development of financial sector of economy, despite the unfriendly financial economic environment," he said.