Development Bank of Kazakhstan awarded RAM Ratings as 1st Islamic bond issuer

The ceremony took place in Kuala Lumpur (Malaysia). At the awards ceremony the Deputy Chairman of the DBK Zhaslan Madiev noted that Islamic financial papers could be an important tool for diversifying sources of investment in the economy of Kazakhstan.

"We are very pleased to receive this award, it is an indicator of the confidence of the international community and the kind of evaluation of the effectiveness of our work. Introducing Malaysian investor with Kazakhstan, we opened up the possibility for future editions of the issuers of the region in the largest Islamic capital market. Also, an implementation of the deal has identified what needs to be refined in Kazakhstan legislation in the field of Islamic finance, " said Zh.Madiev.

It should be recalled that in August 2012 the Bank issued Islamic bonds "Sukuk Al-Murabaha" in the amount of 240 million Malaysian ringgit. This transaction is the first release in the history of Islamic bonds issuers on post-Soviet space. DBK also became the first bank from the CIS region, Central and Eastern Europe, which carried out the placement on the Malaysian stock market.