Al Hilal Islamic Bank to be opened in Kazakhstan
08:50, 12 June 2009
ASTANA. June 12. KAZINFORM /Aigul Tulekbayeva/ The Governments of Kazakhstan and the United Arab Emirates signed the agreement on opening of Al Hilal Islamic Bank in Kazakhstan; Kazinform reports.
The Bank will conduct financial operations in the sphere of industry, agriculture, real estate and tourism. The United Arab Emirati party is obliged to direct its specialists in the sphere of the Islamic banking to Kazakhstan for further training and staff recruitment of Kazakhstan?s citizens. The Bank?s nominal capital will make up over AED 100 mln and it will be opened in Astana and Almaty.
?This Bank will be oriented to representation of the UAE Government?s interests and will ensure attraction of the Arab investments in our country?s economy?, Kazakh Minister of Finance Bolat Zhamishev said. According to him, the Agreement should be ratified by the Parliament.
?Our legislation has a condition, that the foreign bank should have ratings. It was agreed to sign the intergovernmental agreement on the bank subsidiary creation and direct it to ratification?, the Minister added.