IslamicFinance.de

According to Neil Miller - Global Head of Islamic Finance at KPMG - despite the global financial crisis, Islamic banking has demonstrated rapid development and lossless operation reaching an average growth rate of 10%. He further adds that the most significant development is observed in Malaysia. Azerbaijan should learn from Malaysia as well as from Kazakhstan. Azerbaijan should first take care of the lack of legislation in the area of Islamic finance in order to work on development in the spheres of Islamic banking and Islamic insurance.