1 International Bank of Azerbaijan
2 Kauthar bank
3 The Islamic Development Bank Group (IDB)
4 Turan Bank
5 Azeri bank
Trading
List of Islamic Banks in Azerbaijan
Published by Gbaf News
Posted on April 5, 2013
1 min read· Last updated: November 19, 2018
Key Takeaways
- Islamic banking in Azerbaijan is currently offered via Islamic windows, not full standalone Islamic banks.
- Kauthar Bank was the first Islamic‑focused bank but ceased operations in 2002.
- The International Bank of Azerbaijan offers limited Sharia‑compliant services through its Islamic window.
- Other traditional banks like Turan Bank, Azeri Bank, and Yelo Bank occasionally offer non‑interest Islamic products.
References
Frequently Asked Questions
Are there standalone Islamic banks in Azerbaijan?
No fully standalone Islamic banks currently operate; Islamic banking is offered through windows within conventional banks.
Which bank first introduced Islamic banking?
Kauthar Bank was the first Islamic‑focused bank in Azerbaijan, but its operations ceased in 2002.
Does the International Bank of Azerbaijan offer Islamic services?
Yes, it provides Sharia‑compliant services through an Islamic window.
Do other banks offer Islamic products?
Yes, banks like Turan Bank, Azeri Bank, and Yelo Bank occasionally provide non‑interest Islamic products.
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