Almaty focuses on Islamic banking development prospects

16:44, 16 June 2014

ALMATY. KAZINFORM An international workshop themed "Prospects for the development of Islamic banking in Kazakhstan" and Islamic banking and Islamic insurance practical course started their work today in Almaty. The events are organized by the National Bank of Kazakhstan and Islamic Financial Services Board (ISFB), the bank's press service said.

"Almaty bills itself as an Islamic financial hub in CIS and Central Asia. Given that the region is a home to more than 75 mln of Muslims, that is also forecast to grow up to 100 mln people by 2030, we may suggest that there is a great potential of the Islamic financial services market," deputy chairman of the National Bank Daniyar Akishev said. According to him, Kazakhstan takes a package of measures to develop Islamic banking the countrywide ranging from training of experts to legislative reforms. The events gather reps of the National Bank, central banks of the ISFB and CIS member countries, Kazakh ministries and departments, international and Kazakhstan-based financial institutions. Leading Islamic financing experts from Malaysia, France, Turkey and others are the speakers of the workshop and practical course that will last until June 19.

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