Sharia Council being established under Azerbaijan Banks Association

The process of establishing a Sharia Council under the Azerbaijan Banks Association (ABA) is in its final stages, ABA Executive Director Yunus Abdulov said at the Islamic Financial Forum 2025 in Baku, Report informs.

He noted that the development of the council's charter and the evaluation of candidates are nearing completion: "Steps towards approval will be taken soon. The council will serve as a single point of reference, from product design to operational audit."

Abdulov added that all the steps taken create full compliance for implementation: "Market interest, existing knowledge and partner network, and institutional support are consistent with the CBA's strategic vision."