Al Hilal hosts Kazakhstan seminars
Abu Dhabi, February 8, 2011
Al Hilal Islamic Bank, the first commercial Islamic bank in Kazakhstan, conducted a series of seminars on the basic principles of Islamic finance, in the key cities of Almaty and Astana.
Held under the theme ‘Fundamentals of Islamic Finance,’ the sessions also introduced relevant taxation guidelines under Kazakh law and encouraged reforms in domestic banking policies to expedite the growth of the country’s young Islamic finance sector.
A subsidiary of Al Hilal Bank, a progressive UAE-based Islamic bank fully owned by the Abu Dhabi Government, Al Hilal Islamic Bank was established in March 2010 shortly after a new law governing Islamic finance was introduced in Kazakhstan.
“Kazakhstan has all the right elements in place in terms of legislation and infrastructure to keep pace with regional developments in Islamic banking,” said Ahmed Ateeq Al Mazrouei, chairman of Al Hilal Bank.
Al Hilal Islamic Bank is headquartered in Almaty City, the business center of Kazakhstan, with a second branch in the capital city of Astana.-TradeArabia News Service