If you search for Islamic finance in Kazakhstan, you would see a lot of search results — but not the one that would put them on the Islamic Financial Map. But all that is expected to change in the coming years.
The National Bank of Republic of Kazakhstan (NBRK), few years back established an Association for Development of Islamic Finance (ADIF) to help promote, build and grow the Islamic financial sector in the country. Heading the organization are Kazakhstani’s men and women doing amazing jobs. But, more important, they’re all professionals who believe in Islamic finance, with an ability to understand basic Shari’a structures, to do those jobs. Unfortunately, there are far too few professionals like them and far too fewer people with knowledge of Shari’a following their paths.
This is an issue that hits home for us at SRB. So, we decided to launch a campaign from Bahrain connecting to institutions in Kazakhstan seeking Shari’a scholarly resources through ADIF. We’re attempting to offer unlimited Shari’a Consultation in the country on a much larger scale, an initiative to inspire establishments to explore their ideas and offerings in light of Shari’a. The engagement will also include facilitating Certification, structure development and Shari’a Audits. And, we’ll also be helping ADIF develop a few steps which they can take at home to get their local-institutions excited about Islamic investments. It’s not easy, but it’s expected to show results.
Let’s put Kazakhstan on the map!