1st Shariah-Compliant Investment Fund set up in Kazakhstan

Photo: 1st Shariah-Compliant Investment Fund set up in Kazakhstan / Economy news

Today the city of Astana played a host to a ceremony of opening of the first Investment Fund based on the Islamic finance principles in Kazakhstan (Hajj Fund), Kazinform reported.

"I am grateful to our Malaysian colleagues, the AmanahRaya Company, for their confidence and tolerance. We started our cooperation more than a year ago and the whole time they transferred their invaluable practice, knowledge and technologies," said Chairman of the Board of Directors of Fattah Finance JSC Zarat Kazy Nurpeisov.

According to him, the Fund will accumulate money of the common people for the Hajj with the help of the world's best experts in Islamic finance.

The Fund will channel the means to the Hajj infrastructure (hotels, planes, buses, etc). Kazakhstan will have an opportunity to own hotels in the holy cities.

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