The International Bank of Azerbaijan (IBA) is involved in the 19th World Islamic Banking Conference in Bahrain, on the theme "New strategic path of development of Islamic finance. Growth, innovative products, the impact of globalization."
As reported in the bank, the main purpose of participation in the IBA conference is to present the country, strengthening our position in the global Islamic financial markets, studying the experience of the world's leading Islamic financial institutions, and partnerships in order to attract investment to the country.
As in previous years, the organizers and participants of the event are the top leaders of the international financial institutions and government agencies, and key regulators from over 50 countries. Lead partners and participants present their latest innovative projects and achievements in the field of Islamic finance.
Since the beginning of the "Islamic window" IBA has financed six projects and 20 trades on the basis of Islamic banking in the amount of $ 65 million. -15D -
Economics
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Last week, Azerbaijani media reported an impending increase in retail bread prices, attributing the rise to an increase in product weight. The following day, an official notification confirmed that the government had no intentions of sanctioning a bread price hike in the country. However, the threat of a price increase for this staple food remains for another reason.
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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