Kazakh law on Islamic banking approved by Majilis

Islam

Islam

Kazakh law on Islamic banking: Deputies in the Majilis, the lower chamber of Kazakhstan’s parliament, have approved a bill that will pave the way for the establishment of a fully-fledged Islamic financial system in Kazakhstan. The bill has been designed to provide a stable environment in which Islamic banking can flourish by guaranteeing insurance payments, and by strengthening the system of compulsory insurance relating to its practitioners.