Azerbaijani Bank Technique: No plans to develop Islamic products in near future
By Emin Aliyev -Trend: Baku, Azerbaijan, Dec 9, 2013: Azerbaijani Bank Technique does not intend to develop Islamic products in the near future, Bank Technique customer service department head Kamran Akhundov told Trend on Dec.9.
"Of course, the Bank Technique has plans for introduction and development of Islamic products, but it is too early to talk about specific dates. The market already has precedents - as is well known, the largest bank in the country - the International Bank of Azerbaijan, already provides similar tools. We keep abreast of market trends," Akhundov said.
At the same time, he said that a certain niche should be formed for active development of Islamic banking in the country's banking sector.
"Some demand should develop in the market. Currently there is a demand, but it is not high enough to seriously strengthen the bank's activities in this direction," Akhundov added.
Bank Technique open joint stock company has been operating on the Azerbaijani banking market since 1994. As a result of the successful re-branding in 2012, it was able to create an image of the leading bank. Standing out for the successful and rapid development mechanism on the banking sector, Bank Technique offers a wide range of banking and financial services in Azerbaijan.
Currently the bank provides services in 32 branches and 8 bank departments in Baku, Absheron, Ganja, Sumgait, Guba, Mingechevir, Gabala, Sheki, Bilasuvar, Neftchala, Jalilabad, Khachmaz, Tovuz, Agstafa, Lankaran, Balakan and Tartar.
Translated by M.L.
Edited by C.N.