Middle East Economic Survey

VOL. LIII

No 13

29-March-2010

CASPIAN

Al Hilal Establishes First Islamic Bank In Kazakhstan

Kazakhstans Financial Regulatory Authority granted permission on 23 March for Abu Dhabis Al Hilal Bank to open branches in Almaty and Astana. Kazakhstan and Abu Dhabi signed an agreement to launch Al Hilal Islamic Bank in Kazakhstan last June, after Kazakhstan passed legislation allowing Islamic banking in February 2009.Silk Road Intelligencer reported that the bank plans to open...