Kazakhstan plans to develop Islamic finance market.

By bne IntelliNews March 15, 2011
Kazakhstan plans to develop Islamic finance market. Arken Arystanov, chairman of the Regional Financial Centre of Almaty informed that the country planned to attract USD 10bn in Islamic finance over the next 5 to 7 years. Apart from that, Kazakhstan intends to place sukuk bonds worth USD 500mn, deputy finance minister Berik Shopankhunov has informed, Kazakhstan is presently hosting the second Islamic finance conference. Significantly, the country is eager to become hub for Islamic finance in the region.

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