Azerbaijani Amrahbank enhances cooperation with Islamic banks and insurance companies

It should be noted that Amrahbank was a strategic partner of 7th Annual World Takaful Conference.

Director of Business Development and Marketing Department Shafiga Hajiyeva, representing Amrahbank at the conferences, had meetings and talks with representatives of Islamic banks, Islamic insurance and reinsurance companies. As a result of these actions mutual agreements for further cooperation were reached.


amrah bank


“Being long-term partners and in order to strengthen cooperation, Amrahbank and the Islamic Corporation for the Development of the Private Sector (ICD), a member of the Islamic Development Bank Group (IDB), plan establishment of the first Islamic insurance company in Azerbaijan and throughout the CIS. Thus, participation in these conferences can be considered as one of the initial steps in this direction,” Hajiyeva said commenting on the occasion.

Established in 1993 Amrahbank is one of the oldest and leading commercial banks of Azerbaijan. It offers to its corporate and retail customers all banking products and services such as opening of current and deposit accounts, plastic card services and clearing operations, consumer and business loans, local and international money transfers, documentary operations, trade finance and other banking services.

Strategic partnership with the Bahrain based International Investment Bank since 2008 (through 49% shareholding), has played a key role in further development of various spheres of Amrahbank’s activity such as corporate governance, international cooperation, array and quality of products and services, etc.