Rector of the University, chairman of the Milli Majlis standing commission on science and education Shamsaddin Hajiyev highlighted the importance of the topic stressing that Azerbaijan is the first among CIS countries to host such an event. The seminar is held under the agreement between the University and IDB. According to him, the main objective of the event is to introduce the participants to the main conception, Islamic economy tools and Islamic banking, and spell out their difference from the traditional economy and banking.

The seminar is also attended by researchers, bank employees, officers of the financial institutions of Kazakhstan and other Central Asian nations.

Senior coordinator of the Islamic Researches and Training Institute Feisal Salami noted that this educational institution was created to further development of economic, financial and banking activity in the IDB member countries and offer services in the research, education and information aimed at expanding cooperation among them. One of Institute's areas of activity is to study and apply the Islamic banking and economy.

The first day, the event participants heard the reports on "What is the Islamic Economy" and "Comparison of the Traditional and Islamic Financial Systems."

Upon completion of the seminar, the participants will receive certificates. AzerTAg