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.
