Cash Master Ablyazov’s Beautiful Laundrette/II

Cash Master Ablyazov’s Beautiful Laundrette/IIIt is like Doctor Faustus’ pact with Mephistopholes: immediate benefit to be paid for in treacherous longer-term loss. But should the pact, preliminarily agreed upon between the current state-controlled board of BTA Bank, materialise, those who created the current mess will still be in charge of the process getting out of it.

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Kazakhstan’s Islamic finance market starts to grow

Eight months after Kazakhstan’s law on Islamic finance and banking was adopted, a handful of local and international Islamic institutions have already set up in the country. Looking ahead, the issuance of sukuks, or Islamic bonds, by Kazakhstan-based companies is expected to drive the market for Sharia finance.

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