Kazakhstan hosts conference in Islamic finances

Astana has opened a two-day conference on Islamic finances KIFC 2012, Trend reports.

Attendants will discuss Islamic securities as an instrument for direct investments, regulation of Takaful insurances, Islamic financial products and small and medium-scale business.

The market of securities has grown by 21% in the last 5 years, totaling $1 trillion in 2011, Deputy CEO of the Kazakh Development Bank Zhaslan Madiyev says. He described the peculiarities of making deposits in Kazakh and Malaysian markets. The development bank became the first emitter of successful bond allocation of Al-Murabah among post-Soviet state in July 2012.

About 200 delegates arrived for the conference.

KIFC 2012 will also include an IDB Day conference with a presentation of the partnership strategy of Kazakhstan and the Islamic Development Bank Group on October 2, 2012.