BAKU, Azerbaijan, June 17. Interest in Islamic
finance is growing in Azerbaijan and could help support broader
economic development and long-term prosperity, according to the
International Islamic Trade Finance Corporation, Trend's correspondent
reports from the event.
Speaking at the 14th Islamic Development Bank Group Private
Sector Forum, Adeb Alama, CEO of ITFC, said Islamic finance offers
a values-based development model that connects financial activity
with the real economy while promoting shared prosperity and social
welfare.
“The principles of Islamic finance are deeply rooted in
fairness, risk sharing, asset security, ethical investment, and
social solidarity,” Alama said, adding that these principles align
with broader global development goals.
He noted that many countries, including members of the Islamic
Development Bank Group, continue to face challenges such as
economic fragmentation, exposure to external shocks, food and
energy insecurity, rising debt levels, and constraints on inclusive
growth.
Alama said the group’s upcoming 10-year strategic framework for
2026–2035 emphasizes sustainable prosperity through stronger
economic resilience, expanded participation in growth
opportunities, and protection of human dignity.
“From the perspective of the Islamic Development Bank Group, the
role of Islamic finance goes far beyond financial intermediation,”
he said. “It is about strengthening resilience, advancing regional
integration, mobilizing long-term development finance, and
promoting more inclusive and equitable economic systems.”
He also highlighted trade as a key driver of job creation, food
security, and regional connectivity, adding that sustainable
expansion depends on stable and inclusive financial systems.
Islamic finance, he said, offers “significant strategic potential”
in supporting that goal.
