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The “Damu” Fund and Association for Development of Islamic Finance (ADIF) signed the bilateral Memorandum

May 17, 2017 6:25 pm

Not only religious people can take advantage of the services of Islamic banking, "said Daulet Abylkairov, the deputy chairman of the “Damu” Fund, and Timur Rustemov, the chairman of the Islamic Finance Development Association.

"Last year, the “Damu” Fund created a corporate group on Islamic financing. It included the Association for the Development of Islamic Finance and a number of financial organizations working in this field. Considering the fact that 60% of countries work under the terms of Islamic financing, we cannot dismiss this trend. In addition to this, the president of Kazakhstan gave instructions to develop Islamic financing. As soon as the internal documentation of Al-Hilal and Zaman banks working under these conditions is ready in the Republic of Kazakhstan, and the Sharia council will approve their work, we will start financing small and medium-sized entrepreneurs, "said Deputy Chairman of the Board of the “Damu” Daulet Abylkairov.

To receive funding for the requirements of Islam, entrepreneurs need to know what Islamic financing is. The seminar «How to access Islamic finance for business development», organized in the framework of the memorandum, answered these questions. During the event, representatives of “Al-Saqr Finance”, “Kazakhstan Ijara Company”, Association for the Development of Islamic Finance and the charity organization “Sadaka” held a presentation of the program of the Islamic Finance Institute.