Zaman Bank is expected to enter Kazakhstan's Islamic banking services market in near future. The news was announced by Nurlan Abdrakhmanov, director of the financial market methodology department of Kazakh National Bank. He noted that among all the products of Islamic banking, murabaha is in the greatest demand in Kazakhstan.
During the visit, the ICD delegation will meet with representatives of Azerbaijan's financial sector to study the potential of micro-finance market and works done in this sphere. The conference will also be attended by representatives of Germany's KfW Group.
The Islamic Development Bank (IDB) will take part in financing of the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline’s construction. Economic feasibility of the TAPI project is confirmed by experts of the countries participating in the project and independent international experts. They testify to the guaranteed capacity of Turkmenistan to ensure long-term gas supply via this route. The development of Galkynysh field envisages 33 billion cubic meters of natural gas per year. Turkmengas state concern has announced a tender for the provision of services on project management, which will be implemented with the participation of the IDB. The project is expected to be completed in late 2019.