Baku. 13 October. REPORT.AZ/ International Bank of Azerbaijan Republic (IBA) has revealed the reasons for elimination of Department of Islamic banking. Confirming to Report the information on elimination of the Department of Islamic banking, the IBAR spokesman Yadigar Jafarli stated that, this step was taken in the framework of ongoing structural changes in the bank.
Agreements in Islamic banking signed with foreign financial organizations, as well the bank's obligations remain in force. At the same time, implementation of projects in this direction goes on.
Commenting on the employees of the Department, Y.Jafarli said that, they continue to work in accordance with the functional distribution.