Kazakh bank to comply with principles of Islamic finance - Baidaulet
18:17, 6 November 2014
ASTANA. KAZINFORM - In 2015, Kazakhstan's Zaman-Bank JSC will operate in accordance with the principles of Islamic finance, announced Chairman of the Islamic Finance Development Association Yerlan Baidaulet.
"I believe that Zaman-Bank will be the first Kazakhstani Islamic retail bank. But, first off, it needs to get a license. It will offer its services to the population next year," Baidaulet said at a press conference in Astana on Thursday. In his words, the bank will grant so-called ‘interest-free loans' complying with Islamic principles.