Al Hilal Bank is to open the first Islamic bank in Kazakhstan in the first quarter of 2010.

The Abu Dhabi government-owned Al Hilal Bank is to open the first Islamic bank in Kazakhstan in the first quarter of 2010. The local Islamic Bank was registered in January 2010 and currently is in the final stage of obtaining a banking license to develop as a full-fledged commercial bank operating through Astana and Almaty branches.

The establishment of JSC Al Hilal Islamic Bank, the Kazakhstan subsidiary, was initiated under the UAE-Kazakhstan intergovernmental agreement on cooperation between the two countries. The introduction of legislative amendments and changes to Banking Law, Civil Code and Tax Code aimed at accommodating the existing rules for Islamic banking principles has supported the quick foundation of the Bank. The prudential norms for Islamic banks introduced by Agency of the Republic of Kazakhstan on regulation and supervision of financial market and financial organizations have created the ground for equal development of Islamic and conventional banking in the country. It is assumed that the establishment of Islamic banks and popularization of Islamic finance principles will open up new investment and financing opportunities for domestic enterprises and promote establishing new business relations with Islamic investors.

The primary objective of Al Hilal Islamic Bank is the contribution to the development and prosperity of the Kazakhstan economy through providing access to innovative Islamic banking solutions to the business and public. The Bank’s business will focus on corporate and retail banking. Corporate banking will cater to the needs of customers through financing products, cash management, trade finance as well as consulting solutions. The Bank welcomes the cooperation with customers in agriculture, oil and gas, mining and manufacturing, trade and FMCG, transport and communication segments of the economy. Initially retail banking services will be limited to cash management and deposit products for VIP retail customers. More services and products will be added later on with the popularization of the Islamic banking practices and principles in the country. All banking products and services to be offered by Al Hilal Islamic Bank will be fully Shari’a compliant and duly monitored by in-house Shari’a scholars and approved by the Islamic Finance Principles Board of Al Hilal Bank

source : engdigest

Islamic Microfinance Challenge 2010: Innovating Sustainable, Scalable, and Market-Driven Models.

Islamic Micro Finance Challenge for 2010 has been organized by CGAP, Deutsche Bank, Islamic Development Bank, and Grameen-Jameel with the theme of Innovating Sustainable, Scalable, and Market-Driven Models. This contest is to promote Islamic micro finance innovative models.  

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Reference sources for Dissertation or Thesis in Islamic Finance or Economics (Islamic Magazines, Periodicals and Journals)

List of Magazines, periodicals and journal published to promote Islamic finance, Islamic banking and Islamic economics around the world in English.

New Horizon – Institute of Islamic banking and Insurance – UK

True Banking – Bi monthly magazine published by Al Huda Center of Islamic Banking and Economics (CIBE) Pakistan

Global Islamic Finance Magazines – UK

Business Islamica Magazine – UAE                  

Islamic Finance Asia –

Islamic Banking and Finance – UK

Islamic Finance Today – Sri Lanka

Islamic Business and Finance Magazine – UAE

The Review – Central Bank of Bahrain

MIF Monthly – Malaysia

Halal Journal – Malaysia

Shirkah – Swiss

Journal of King Abdul Aziz University – The economics department

Islamic Research and Training Institute Journal

Journal of Islamic Economics, Banking and Finance (JIEBF) – Quartely Islami Bank Training and Research Academy

International Journal of Islamic and Middle Eastern Finance and Management –

Online magazines

Islamic Banking and Finance News –  Al Huda Center of Islamic Banking and Economics (CIBE) Pakistan




Islamic Finance and Investments – Al masrifia

Journal of Islamic Awarness – Kuwait