Al Hilal licensed for banking operations in Kazakhstan


Daniyar Sikhimbayev

The Kazakh Agency on Regulation and Supervision of Financial Markets and Financial Organizations issued a license for banking operations to “Islamic Bank “Al Hilal” JSC – first Islamic bank established in Kazakhstan Wednesday, Kazinform refers to the press service of the Agency.

The founder of the Bank is “Al Hilal Bank” JSC (United Arab Emirates). “Islamic Bank “Al Hilal” JSC was established in accordance with the agreement between the Governments of Kazakhstan and UAE on opening of Islamic bank in Kazakhstan that was ratified by the Kazakh Law as of July 7, 2009.