Development of Islamic financing discussed in Almaty
ALMATY. May 14. KAZINFORM /Dauren Zhailin/ Today in Almaty the RFCA Academy has held a forum entitled “Prospects of Development of the Islamic Financing in the Republic of Kazakhstan”.The forum was organized by the Regional Financial Center of Alamty JSC, and Academy of the RFCA JSC. Representatives of public and private organizations and financial institutions took part in the forum. The issues of the national legislation with regards to the Islamic banking, key aspects of development of the Islamic financing in the country, difficulties in introduction of the Islamic instruments were discussed at the forum. As Deputy Chairman of the RFCA Regulation Agency Chingiz Kanapyanov noted, today the sector of the Islamic financing is the most increasingly developing one in the world. The Islamic banking is practiced by over 400 financial institutes of the world and its annual turnover is up to USD 800 bln. According to experts, the activation of introduction of the Islamic financing will bring Kazakhstan investment attractiveness among CIS countries and allow to become the region's Islamic financial center.