OREANDA-NEWS. October 23, 2009. The International Bank of Azerbaijan intends to use the islamic banking experience and provide the range of relevant services to population, reported the press-centre of IBA.

This informed Jahangir Hajiyev, Chairman of Board of the Bank.

"Under the conditions of global financial crisis the interest to islamic banking is increasing. In Azerbaijan there are very immature starts of the Islamic banking in some commercial banks, therefore our main idea is in bringing the islamic banking to Azerbaijan and provision of services to population", - said Jahangir Hajiyev at the II International Banking Conference of CIS member states "Increasing the stability of financial and banking systems of Commonweath states"

According to him, at this time the negotiations are held by the Qatar Financial Centre in this direction. Since bank plans to open its representative office in Qatar in 2010, the Islamic banking practices will be commissioned at this time.

As Hajiyev informed, also the negotiations held with Islamic Development Bank, within which there will be “Islamic window” opened for IBA until the end of 2009.

"Islamic window" - is the provision of Islamic banking services within the framework of traditional. They have their specifics.

Information support in implementation of the banking conference is provided by the TREND and Day.Az agencies.