Islamic Finance Law legalized in KAZAKHSTAN

kaz_qarqand_mosque_s_The islamic finance in Kazakhstan to be under the legal frame work and it is the first CIS country legalize the islamic finance.

This law will help the Kazakhstan to leader in international investments in the CIS and central Asia Region. The purpose of this legal frame work for islamic finance to make Kazakhstan to be hub of Islamic finance in Central Asia Region and expected to expand beyond country from Middle East to South East Asia.

The ARA of the country initated this work by forming a working group including reperesentatives of state bodies and market players and finally the drafted law and submitted it to parliament.

An Islamic Finance Road show has been scheduled by RFCA in the following areas,

Examining key developments in Islamic finance in Kazakhstan and assessing how

Local practices compare and contrast to other regional centres.

Kazakhstan & the Islamic Capital Markets

Discussing local and regional developments in Sukuk and Islamic capital markets, including taxation, regulatory and ratings issues.

Islamic Products: What can and can’t be done?

Assessing the development of Islamic financial products in Kazakhstan and the regional market and exploring the potential for further innovation.

Issuing & Investing in the Islamic Financial Markets

Identifying important investor considerations for the Islamic capital markets: what are investors looking for and how can issuers meet their needs.

Issuers & Investors Round-Table

Examining current market trends and opportunities for the Islamic capital markets.

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