The Central Bank of Azerbaijan (CBA) has signed a Memorandum of Understanding on cooperation with the Islamic Corporation for the Insurance of Investment and Export Credits (ICIEC).
Report informs, citing the CBA, that the document aims to provide a legal framework for cooperation between the institutions to expand the use of Islamic insurance services in the country.
Within the framework of the MoU, it is envisaged to organize experience exchanges in the field of Islamic insurance between the institutions, as well as various training sessions and seminars, and mutual visits.
This cooperation will contribute to the expansion of the application of new financial instruments in the country, thereby accelerating the flow of investments into the country.