Azerbaijan turns to Islamic capital in search of a new financing architecture

Every time oil prices begin to fluctuate and global markets grow uneasy, the same question returns in Azerbaijan: could the manat lose value again? That fear has lived in the country’s collective memory for more than a decade. In 2015, Azerbaijan...

Future growth will depend less on scale and more on efficiency Azerbaijan’s e-commerce market is approaching a strategic turning point. After several years of rapid expansion, driven by the digitalisation of the banking sector, improvements in...

For many years, environmental spending in Azerbaijan was seen as a secondary item — something obligatory, but hardly strategic. In an economy built around oil, gas, construction and heavy infrastructure, nature often remained a backdrop for growth...

The volume of Islamic banking assets in Azerbaijan could grow to $2.7 billion by 2035, while the total issuance of Islamic bonds, or sukuk, could reach $1.5 billion over the same period, according to a joint report by the Islamic Development Bank...