How does a religious group's demographic status influence its members' attitudes toward economic and political liberalization? This study adopts a contextual approach and compares Azeri Muslims' political and economic attitudes in two illiberal states, Azerbaijan and Georgia. We argue that attitudes toward liberalization are shaped by the strength of association with one’s religious community and its relative position vis-à-vis the state and society. Drawing on a series of Caucasus Barometer surveys, we find that context and position in society matter. In religiously restrictive Muslim-majority Azerbaijan, Muslims’ religiosity is associated with greater support for political liberalization but lower support for economic liberalization. In religiously restrictive non-Muslim-majority Georgia, however, Muslims’ religiosity reflects the converse: opposition to political liberalization but support for economic liberalization. Thus, instead of theologies, the political and economic opportunity structures facing religious groups may play a critical role in determining their attitudes toward various forms of liberalization.