IslamicFinance.de

Almaty-based Al Hilal Islamic Bank may expand into neighbouring markets as legislation in the Central Asian countries changes. Islamic finance is gaining popularity in the region, but Al Hilal is currently the only sharia-compliant lender in Kazakhstan. The Abu Dhabi government wholly owns Al Hilal's parent company and according to its chief executive, Prasad Abraham, the bank is considering increasing its geographical presence as part of its 2015 business plan.