Islamic lending exceeds 120 million dollars

Baku. 27 May. REPORT.AZ/ "Ak Bars" Bank is offering Islamic banking services in Russia, of which the "Murabaha" syndicated loans amounted to 60 million dollars in 2011 and 100 million dollars in 2013. 

Report informs, the representative of "Bank Standard" CJSC Hikmet Aliyev said addressing at Financial Innovation Forum started today in Baku.

According to H. Aliyev, Islamic loans in Azerbaijan exceeded 120 million dollars in 2014: "Islamic window operated by the International Bank has been functioning since August 2012. By the end of 2014 the volume of assets exceeded 300 million dollars."

Islamic banking is developing in Russia, Kazakhstan, Uzbekistan, Tajikistan and Kyrgyzstan, H. Aliyev said.