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Baku, Fineko/abc.az. On May 19, a business breakfast of Sberbank and KPMG on “Counterpart Financing: #NewReality” was held in Kazan within the framework of “Russia-Islamic World: KazanSummit 2017”. The moderators of the breakfast were Vugar Aliyev, Head of Financial Services at KPMG in Russia and the CIS, Managing Partner of KPMG in Azerbaijan, and Behnam …
Nov 16 Kazakhstan’s parliament has approved legislative amendments to facilitate Islamic finance, paving the way for Central Asia’s largest economy to issue its first sovereign sukuk next year, a government official said. The amendments, which still require the president’s signature, would also allow for the conversion of conventional banks into Islamic ones, said Yerlan Baidaulet, …
RAM Ratings has reaffirmed the AA2/Stable rating of the Development Bank of Kazakhstan Joint-Stock Company’s (DBK or the Bank) MYR 1.5 billion Sukuk Murabahah Programme (2012/2032). The rating reflects the credit strength of the Government of Kazakhstan (GOK, rated AA2(pi)/Stable/P1(pi)), given RAM Rating’s opinion of a very high likelihood of support in times of need. DBK, ultimately …
The 12th Sammit of the Islamic Financial Services Board (IFSB) will take place in Almaty from May 19 to 21, Tengrinews reports citing BNews.kz. It is the first time the IFSB Summit will be hosted by a post soviet country. The Summit facilitates dialogue between key players in the Islamic financial sphere. The current IFSB Summit …
The Islamic Financial Services Board (IFSB) is pleased to announce that the 12th Annual Summit will be held on 19 – 21 May 2015 in Almaty, Kazakhstan. The National Bank of Kazakhstan is hosting the twelfth edition of this annual landmark event for the IFSB, the first to be held in the Central Asia region. …
The National Bank of Kazakhstan, the central bank and financial services regulator of the Republic of Kazakhstan, has taken up membership in Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI). The signing ceremony to commemorate the membership was held on Tuesday 2 Dec 2014 at the World Islamic Banking Conference 2014 in Manama, Kingdom …
A summit of the Council for Islamic Financial Services will be held in Almaty in 2015, Tengri news reports citing the Governor of the National Bank of Kazakhstan Kairat Kelimbetov as saying at the briefing in the Central Communication Service headquarters in Astana in October. “A summit of the Council for Islamic financial services will be held …
“The rating reflects the credit strength of the Government of Kazakhstan (GOK, rated AA2(pi)/Stable/P1(pi)), given our opinion of a very high likelihood of support in times of need. “Ultimately owned by the GOK, DBK plays a strategic role in facilitating the former’s goal of diversifying Kazakhstan’s economy away from the oil and gas sector. Reflecting …
The 4th Kazakhstan Conference on Islamic Finance took place this Wednesday in Kazakhstan. In his speech at the conference Governor of Kazakhstan’s National Bank Kairat Kelimbetov declared it was necessary for the Central Asian country to adjust its legislation to facilitate development of Islamic finance, Tengri news reports. He said that Kazakhstan’s central bank was …
KUALA LUMPUR: Kazakhstan’s Al Hilal Islamic Bank, the only Sharia-compliant lender in the country, may expand into neighbouring countries as legislative efforts to develop Islamic finance gather pace across the region, its chief executive said. Fresh Islamic finance legislation is being developed in Azerbaijan, Kyrgyzstan and Tajikistan, creating a more welcoming framework for the industry …
Kazakhstan’s Al Hilal Islamic Bank, the only sharia-compliant lender in the country, may expand into neighbouring countries as legislative efforts to develop Islamic finance gather pace across the region, its chief executive said. Fresh Islamic finance legislation is being developed in Azerbaijan, Kyrgyzstan and Tajikistan, creating a more welcoming framework for the industry in countries …
Consumer Rights Fight Against Fake-Halal Goods In Kazakhstan Consumer Rights Protection Agency continues battling with “fake”-halal goods, Tengrinewsreports. The Agency also questions whether the work of the Halal Industry Association of Kazakhstan has legal basis. According to the Agency, there are no regulations or legal acts governing issuance of halal standards compliance certificates in Kazakhstan. But the Halal Industry Association evaluates quality, determines eligibility …
