During a recent visit to Astana, foreign Islamic bankers announced that Kazakhstan is strongly interested in developing Islamic finance. The central Asian nation is emerging strongly as the most proactive and advanced Islamic finance market, Gazeta.kz reported. President Nazarbayev is keen to develop diversified economic relations with both traditional partners such as Russia but also with the West and the Middle East Muslim nations. Kazakhstan is a member of the OIC (Organization of the Islamic Conference) and the IDB.
A delegation from Malaysia’s International Islamic Financial Centre (MIFC) visiting Kazakhstan at the end of January was encouraged by the developments in the Islamic finance in the CIS country. The visit was part of the MIFC’s objective of consolidating Malaysia as the international hub for Islamic finance and its efforts to foster bilateral ties and cross-border cooperation in Islamic finance. The MIFC visit in January also coincided with the Islamic Finance Forum which was addressed by key MIFC initiative stakeholders.
source : new europe