The delegation of OJSC International Bank of Azerbaijan (IBA) is going to Moscow for the realization of the idea of the creation of the Islamic Development Bank of the CIS countries. Taking into account the solid capitalization of the Russian "daughter" of the IBA and interest in Islamic banking in some regions of the northern neighbor, this trend has the right to subsistence and development.
The Director of the Department of Islamic finance of IBA Behnam Gurbanzadeh told the media that, in this case, Baku will become a regional Islamic financial center. "Russian banks have funding problems and actively seek alternative sources of funding. In this context, they are ready to accept our proposed scheme of Islamic finance," he said, adding that Kazakhstan also agreed to join the project. --17D-
Economics
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Azerbaijan’s Information and Communication Technologies Agency (ICTA) held a meeting with representatives of internet service providers (ISPs) and telecom operators to address concerns over the accuracy of reported internet speeds and the country’s ranking in global broadband performance indices.
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Bulgaria considers Azerbaijan a key strategic partner in the energy sector, as the country plays a crucial role in diversifying gas supplies and strengthening regional energy security, Bulgaria’s newly appointed Energy Minister Jecho Stankov said during a meeting with an Azerbaijani delegation.
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Rovshan Najaf, president of Azerbaijan’s state oil company SOCAR, met with Majid Jafar, CEO of Crescent Petroleum, on February 6 to discuss potential avenues for collaboration in the energy sector. The meeting marked an important step in strengthening ties between the two companies, with both sides exchanging insights on their respective operations and assessing opportunities of mutual interest.
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Rovshan Najaf, president of the State Oil Company of Azerbaijan (SOCAR), met with Sašo Berger, chairman of Slovenian energy company Petrol dd, and Simon Urbanc, CEO of Geoplin doo, on February 6, underscoring growing cooperation in the natural gas sector between Azerbaijan and Slovenia.
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