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Cross-border Islamic Financing In Focus For Kazakhstan

12 January 2021: Cross-border Islamic Financing In Focus For Kazakhstan

In 2009, Kazakhstan was the first county of the Commonwealth of Independent States (CIS) to introduce Islamic banking and Islamic securities. Still, however, little progress has been made in terms of the development of the Islamic finance industry, apparently because of inherent deficiencies in the Kazakh law which has civil law jurisdiction and does not recognize many international legal concepts. 

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https://www.mondaq.com/islamic-finance/1020796/cross-border-islamic-financing-in-focus-for-kazakhstan