IFC Holds a Seminar on Islamic Banking in Baku
The Azerbaijan Project for Corporate Management has organized a seminar on the topic Islamic banking: Corresponding Questions on Corporative Management, Transparency, and Openness for commercial banks operating in the country, Trend reports. The arrangement envisaged viewing corporative management issues at Islamic financing.
The seminar was opened by Charles Canfield, Director of ACGP and Tomas Meyer, Deputy Regional Director of the Switzerland Economic Relations Secretariat (SECO).
The presentation of peculiarities of Islamic financing and products of Islamic banking was held by Muhammad Amrah-Kruha, a representative of Clifford Chains (UAE) operating within the Islamic Financial Group. Bahram Gourbanzadeh, Director of the Analytical and Information Division of the Marketing Department of the International Bank of Azerbaijan, told about practical moments of such operations.
He discussed the three year contract of ACGP which was implemented by IFC since January, 26, 2005 under the financial support of SECO (a grant of $2,1 mln.).
Representatives of 35 banks are participating in the event.