According to the chairman of the National Bank of Kazakhstan, Kairat Kelimbetov, creating a financial hub in the southern capital is a priority. However, one should determine the professional specialization, and as one of the options he offered Islamic finance, as reported by “Zakon.kz IA”

– this is of current interest for Kazakhstan, since about 70 million people live around, who are interested in the use of Islamic financial products, he said.

 At that, Kelimbetov added that the idea of ​​the creation of centers of Islamic finance is very popular in the world. This idea was hatched in the UK capital.

 During the press conference Kairat Kelimbetov mentioned the topic of creation and operation of the unified pension fund.

 In particular ENPF will choose domestic commercial banks to place deposits by open auction.

– A bank which gives a high rate will receive it, he said.

 According to information presented by Kelimbetov, it may be in the top ten banks, but it is possible that the list will include other domestic STB.

Kelimbetov not fail to remind that the yield of pension funds existed before the creation of ENPF was almost half the level of inflation.

– No matter how invested, the yield was at 3 percent, inflation – 6 percent. We believe that they have a negative financial result. So we decided to create a Unified Accumulative National fund, Kelimbetov said.

He reminded that according to the law, the state will compensate depositors for difference if the yield on their pension savings was below the level of inflation.

In conclusion Kelimbetov said that he saw the optimistic future of ENPF.

REFERENCE

The project to create a regional financial center in Almaty was first voiced by the head of state at a meeting with members of the Association of Banks of Kazakhstan in 1995 and during his speech at the Congress of Financiers of Kazakhstan in November 2004.

The decision to establish a regional financial center of Almaty city was due to rapid development of the financial sector of the Republic of Kazakhstan in comparison with the countries of Central Asia, the stable growth of the share of financial services in the composition of gross domestic product, domestic savings, start of investing in the CIS countries and the formation of staffing in the financial sphere.

Kazakhstan was the first in the CIS and Central Asia which took steps to introduce Islamic finance at the legislative level. We have already established partnerships with leading Islamic financial centers and the largest Islamic financial institutions.