CBA governor calls for strengthening international cooperation in Islamic finance

The future of Islamic finance depends not on individual national initiatives, but on collective efforts and stronger international cooperation, Chairman of the Central Bank of Azerbaijan, Taleh Kazimov, said at the 20th Global Forum of the Islamic Development Bank (IsDB) in Baku.

Report quotes him as saying that one of the key priorities is the development of human capital both within financial institutions and among regulators, independent auditors, and other market participants.

"We remain committed to supporting capacity building through the organization of workshops and training programs together with international partners, as well as contributing to the creation of an effective Islamic finance ecosystem," Kazimov noted.

The CBA governor emphasized that the further development of the industry will be determined by the level of cooperation between countries and institutions.

"I would particularly like to emphasize that the success of the next stage will depend not on individual national efforts, but on collective action. I sincerely believe that one of the most important outcomes of this forum will be the further strengthening of institutional cooperation among our jurisdictions. Today's event is yet another confirmation of Islamic finance's commitment to the principles of integrity, transparency, and innovation," he said.