1st Investment Fund based on Islamic finance principles set up in Kazakhstan


Serik Sabekov

1st Investment Fund based on Islamic finance principles set up in KazakhstanToday the city of Astana played a host to a ceremony of opening of the first Investment Fund based on the Islamic finance principles in Kazakhstan (Hajj Fund).

“I am grateful to our Malaysian colleagues, the AmanahRaya Company, for their confidence and tolerance. We started our cooperation more than a year ago and the whole time they transferred their invaluable practice, knowledge and technologies,” said Chairman of the Board of Directors of Fattah Finance JSC Zarat Kazy Nurpeisov.

According to him, the Fund will accumulate money of the common people for the Hajj with the help of the world’s best experts in Islamic finance.

The Fund will channel the means to the Hajj infrastructure (hotels, planes, buses, etc). Kazakhstan will have an opportunity to own hotels in the holy cities.


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A number of agreements signed during WIEF in Astana


Kanat Kulshmanov

A number of agreements was signed following the plenary session of the World Islamic Economic Forum in Astana.

AMANAHRAYA GROUP CAPITAL and Fattah Finance JSC signed agreement on strategic partnership.

Fattah Shop Company and HALAGEL (М) SDN BHD signed distributorship agreement.

Memoranda of understanding were inked between National Information Technologies JSC and My E.G. Services Berhad; Zerde National Information and Communication Holding JSC and MIMOS Berhad; KazNex Invest and Kazakhstan-Malaysia Chamber of Commerce.


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MYEG in First Overseas Venture in Kazakhstan

June 08. Bernama

MY E.G. Services Bhd (MyEG), the e-government services provider, today signed a memorandum of understanding with Kazakhstan’s National Information Technologies JSC (NIT) to jointly introduce e-government services in that country.

In a statement today, MyEG said its first overseas venture would leverage on its experience in delivering online government services in Malaysia to help NIT build Kazakhstan’s national information technology infrastructure.

The signing ceremony, witnessed by Prime Minister Datuk Seri Najib Razak Tun Razak, who is on a four-day official visit to Kazakhstan, and his counterpart Karim Massimov, was held in conjunction with the World Islamic Economic Forum.

MyEG’s Executive Chairman Datuk Dr Norraesah Mohamad said MyEG had developed its expertise and has a track record in providing online public services which could be potentially applied to other markets.

“We are excited by the opportunities presented by this collaboration given that it marks our first venture overseas.

“We hope this mutually-beneficial venture would result in a substantial source of additional revenue from overseas for MyEG and diversify our earnings base in the long-run,” she said.

Both parties hope to see the outcome of the collaboration after a year.