BAKU, Azerbaijan, June 16. Cooperation
opportunities in the halal economy were discussed in Baku.
This was announced in the report by the Azerbaijani Ministry of
Finance.
According to the ministry, the discussion took place at a
session titled “Halal Economy for Sustainable Regional Integration”
held within the framework of the Halal Economy Leadership Forum
(HELF) and the Azerbaijan Halal Business Forum 2026 (AZHAB Forum)
at the 51st Annual Meeting of the Islamic Development Bank (IDB)
Group in Baku on June 16.
The session, where policy priorities and opportunities for
strengthening cooperation on the halal economy were discussed, was
addressed by Minister of Agriculture of Azerbaijan, Majnun
Mammadov, First Deputy Minister of Finance, Anar Karimov, Minister
of Budget and Economic Planning of Nigeria, Abubakar Atiku, and СEO
of the Islamic Corporation for Investment and Export Credit
Insurance (ICIEC), Khalid Khalafalla.
The speeches highlighted the work done in non-financial areas of
the halal economy, and emphasized the development of halal
certification in the food, catering, logistics, tourism and
cosmetics sectors and the support for the integration of local
producers into halal value chains.
First Deputy Minister of Finance Anar Karimov said that the
systematic reforms implemented in the field of public finance
management under the leadership of President of Azerbaijan Ilham
Aliyev and the strong macroeconomic foundations formed create a
reliable basis for the development of the halal economy and Islamic
finance. He noted that Azerbaijan’s favorable geographical
location, developed transport and logistics infrastructure and
growing potential in the Middle Corridor further strengthen its
position as one of the regional centers for halal trade and halal
value chains among the member states of the Organization of Islamic
Cooperation.
During his speech, Karimov noted that the application of
financial instruments such as Islamic banking, sukuk and takaful
serves to diversify the financial system, expand the investment
climate and increase competitiveness. According to him, the
application of international standards in the field of halal
business contributes to increasing productivity, export potential
and consumer confidence in the real sector. The deputy minister
noted that Azerbaijan is ready to strengthen cooperation with
regional partners in this direction and implement joint
initiatives.
At the same time, it was emphasized that cooperation with the
IsDB Group is of particular importance in the context of regional
integration, and it was brought to attention that projects are
being implemented in Azerbaijan, including in the liberated
territories, with the support of the Bank, and cooperation with
various institutions of the IDB Group is being expanded in the
direction of investment, export credit insurance, trade financing,
and private sector development.
