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The 12th Sammit of the Islamic Financial Services Board (IFSB) will take place in Almaty from May 19 to 21.
Governor of the National Bank of Kazakhstan has declared that the summit of the Council for Islamic Financial Services will be held in Almaty in 2015. He also spoke about the future of Islamic finance in Kazakhstan.
Nursultan Nazarbayev has met the Crown Prince of Abu Dhabi and deputy supreme commander of the United Arab Emirates Armed Forces Mohammed bin Zayed Al Nahyan.
Head of Kazakhstan National Bank Kairat Kelimbetov spoke about the stages of development of Islamic finance in Kazakhstan.
The so-called Chinese Threat and Arab Islamization are among the major influences Kazakhstan is susceptible to.
The Fund for Financial Support to Agriculture has started a series of seminars on Islamic financing for personnel of branches and representative offices in 11 regions of Kazakhstan.
Chairman of ICD told about the plans for Islamic financing in Kazakhstan at the 3rd Kazakhstan conference on Islamic Financing.
Kazakhstan is already home to Al Hilal Islamic Bank. The Bank is a 100% subsidiary of Al Hilal Bank, UAE, and the first Islamic bank in Kazakhstan and CIS countries.
The planned overall sukuk program is worth $500 million, with the first five-year batch standing at $200-300 million.
Kazakhstan has ample experience of integration and association among the CIS countries and can become the core of the common space in CA.