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# Islamic Banking Is Being Implemented in Azerbaijan: What Is the Essence of This System?
Since 2026, Islamic banking has been introduced in Azerbaijan. Two banks in the country have already opened special divisions operating under this system.
The issued loans are intended not for consumer needs, but for conducting business. The loan, according to Islamic rules, is called "murabaha," and the deposit is called "mudaraba." The main difference between this system and traditional banking is that it operates without charging interest.
It is interesting how banks make a profit in this system? And what is the essence of Islamic banking?
The answer to these and other questions is in the Baku TV report:
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