Tarik Akin: Islamic financial instruments can be used in restoration of Karabakh

Supporting the development of Islamic finance in Azerbaijan is a strategic goal for Türkiye, Tarik Akin, a representative of the Turkish Presidential Investment and Finance Office, said at the Islamic Finance Forum 2025 in Baku, Report informs.

He noted that the Islamic financial system, based on ethical principles, transparency, risk sharing, and fair income distribution, is becoming an important tool for sustainable development.

"We consider it a strategic goal to support the development of this sector not only in Türkiye but throughout the region, especially in Azerbaijan," he added.

Tarik Akin also noted that reconstruction work in Karabakh opens up extensive investment opportunities for the use of Islamic financial instruments, such as sukuk, takaful, and participation mechanisms.

"These instruments can become an alternative source of financing for various projects in the region," he emphasized.

According to the Turkish representative, Azerbaijan's energy potential, strategic location, and sustainable development offer opportunities for transforming it into a global financial center.