20 October 2025, Baku: The Central Bank of the Republic of Azerbaijan (CBA) continues to chair the Capital Market Regulators Forum Working Group of the COMCEC (the Standing Committee for Economic and Commercial Cooperation of the Organization of Islamic Cooperation), a position it assumed on a rotating basis in 2024. During its term, the CBA conducts analyses on capital market development with member states and prepares relevant policy recommendations.

In 2024, the Working Group prepared a report titled “Development of the Sukuk Market and Green Sukuk Initiatives." Continuing these initiatives, the 2025 topic was determined to be "Legal and Regulatory Conditions for the Implementation of Sukuk in Azerbaijan: Foreign Experience, Regulatory Gaps, and the Need for Reforms." The results of the research conducted on this topic were discussed at the 14th Annual COMCEC Capital Market Regulators Forum, where a representative of the CBA's Capital Markets Policy and Regulation Department gave a presentation.

This activity aims to expand the range of investment instruments and encourage the development of new financial products, such as Sukuk, an Islamic finance instrument, in line with the capital markets initiatives outlined in the Financial Sector Development Strategy for 2024-2026, as approved by the CBA's Management Board.

1

1.33 MB