Regional centre for Islamic finance to be created in Kazakhstan
Kazakhstan, Astana, October 31/ Trend D.Mukhtarov /
A regional Centre for Islamic financing oriented towards Central Asian and CIS countries is being created in Kazakhstan, Deputy Prime Minister and Minister of Industry and New Technologies Asset Issekeshev said speaking at the World Islamic Economic Forum in London, the press service of the Kazakh Ministry of Industry and New Technologies reported.
"Alongside with the development of the financial system, work on creation of such a centre is being carried out in Kazakhstan in accordance to a decree of the country's president," Issekeshev said, the ministry's press service reported.
According to him a road map for the development of Islamic financing in Kazakhstan until 2020 was worked out, the Country Partnership Strategy for 2013-2015 with the main partner - the Islamic Development Bank was signed and a legislative base creating a legal framework for the functioning of Islamic financial institutions is to be improved.
"In addition, Kazakhstan plans to join the Islamic Financial Services Board and reviews the issue of joining the International Islamic Financial Market (IIFM)," the Deputy Prime Minister said.
Within the forum Asset Issekeshev held several business meetings including with Malaysian Prime Minister Najib Tun Abdul Razak, as well as the President of the Islamic Development Bank Dr. Mohamed Ali.
Attention was also paid to the development of trade and economic cooperation of the two countries. It can be recalled that Kazakh and British business circles signed 13 agreements and memorandums in the sphere of oil and gas engineering, oil production, a mining and metallurgical complex, science and innovation and information technologies to a total cost of $1 billion.
Currently the following projects are among the prospective projects with Great Britain. Arrangement of a production assembly for rigs in Kazakhstan jointly with Dando Drilling International, creation of geological research centre jointly with Kazakhstan and the Rio Tinto Company.
Particular attention was also paid to scientific and technical cooperation with the University of Cambridge.