Kuala Lumpur, 28 May 2014 – The Islamic Financial Services Board (IFSB) is organising a Seminar on Islamic Finance in Kazakhstan with the theme, “Prospects and Challenges in the Development of Islamic Finance for Kazakhstan” on 16 June 2014 in Almaty, Kazakhstan. The National Bank of Kazakhstan will host the Seminar on Islamic finance as well as the IFSB Facilitating the Implementation of Standards (FIS) Workshop Series for Banking and Takaful on 17 – 19 June 2014.
This Seminar is part of the IFSB Seminar on Islamic Finance Series which are held in jurisdictions wishing to explore the possibilities, opportunities and challenges of Islamic finance. It aims to create greater awareness on the specificities of the Islamic financial services industry, and discuss the issues in developing Islamic finance in Kazakhstan.
As a pioneer in the introduction of Islamic finance in Central Asia, Kazakhstan has taken important steps to promote the industry through a roadmap that embraces the adoption of supportive legislation and institutions covering the Islamic banking, capital markets and investment funds sectors. With the expanding need for infrastructure investment expected to drive foreign direct investment and joint cross-border ventures, Islamic finance offers a route towards accessing global and national pools of Shari`ah-compliant savings, with a corresponding need for associated legal, taxation and regulatory infrastructure.
The Seminar’s sessions and discussions will draw upon the perspectives of national and regional opportunities on the building blocks needed to introduce Islamic finance as well as the facilitation of cross-border investment flows. The Seminar will also focus on the role of Sukuk in supporting the real economy. Tapping into the fast expanding pool of Shari`ah-compliant funds, the Sukuk market has proved itself as an important source of funding for long term projects such as transportation and infrastructure building for sustainable economic development and fiscal spending requirements. Sukukare also a potential form of High Quality Liquid Assets under the new global liquidity coverage rules.
The one-day Seminar will cover the following topics:
Islamic Finance for Central Asia: Growth with Stability – Regulatory Issues and Key Preconditions
The Role of Sukuk: Infrastructure Financing, Capital Market Instruments and High Quality Liquid Assets (HQLA)
Panel Discussion on the Way forward for the Development of Islamic Finance for Kazakhstan
Regulatory and supervisory authorities involved in development and supervision of Islamic financial institutions and market players which are offering Islamic finance products and services, as well as those involved in development issues and projects are encouraged to participate in this Seminar. Interested participants are encouraged to register online at: http://www.ifsb.org/event_detail.php?e_id=232. Participation in this Seminar is free.
The IFSB is also organising IFSB-FIS Workshop Series for Banking and Takaful on 17 – 19 June 2014 with the aim to provide the participants with a better understanding of the IFSB Standards and their implementations. Participation in these Workshops is by invitation only.
For more information of the Seminar and Workshops and to register, please visit www.ifsb.org or contact Ms. Yazmin Aziz at [email protected].
Originally Published on www.amilin.tv