Baku, Azerbaijan, Dec.4
By Nigar Guliyeva – Trend:
Kazakh Finance Minister Bakhit Sultanov announced that Kazakhstan can start issuing Islamic securities.
Speaking at a government meeting on Dec.4, the minister said that the Ministry plans to issue and place government securities on the platform of the Astana International Finance Center (AIFC) in the first quarter of 2018, to promote the stock market of Kazakhstan .
He said that the process of placement of the government securities on the AIFC platform is underway.
"We are considering the possibility of issuing Islamic securities. We have an appropriate instruction from the head of state for the issue of securities "Sukuk ", and we are working with the AIFC to place them on the stock exchange. securities in general, will be carried out through the system of the international securities depository and EuroClear," Sultanov said.
The minister also recalled that earlier the National Bank of Kazakhstan had been working on the participation of the tenge in EuroClear.
The minister also talked about the work on the placement of shares of Kazakh national companies.
"The Samruk-Kazyna Fund is getting ready for IPO and SPO, in particular, specific roadmaps for the placement of each company's assets have been developed, taking into account the level of current readiness, the need to change the sectoral legislation, and tariff regulation," the minister stressed.
AIFC manager Kairat Kelimbetov said earlier that the international presentation of the AIFC will be held on July 5 2018, but starting from January 1, 2018, the Center will start working.