Association of Islamic Finance and Business of Kazakhstan
This is a non-profit organisation registered in the Astana International Financial Centre, with the aim of developing the principles of Islamic business and finance in the country.
The Association unites professionals, entrepreneurs, academics, and other participants in the Islamic finance and business industry.
The Association unites professionals, entrepreneurs, academics, and other participants in the Islamic finance and business industry.
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Ассоциация объединяет профессионалов, предпринимателей, ученых и других участников индустрии исламских финансов и бизнеса.
- VisionThe Association is a center of expertise, education, and information in the field of Islamic business and finance.
The Association and its members strive to build a fair, sustainable, and ethical financial system based on the principles of Islamic law, which will contribute to sustainable economic growth, social development, and the prosperity of our country. - MissionTo benefit society by unveiling the values and opportunities of Islamic finance.
To promote the principles of Islamic business and finance and create conditions for their practical implementation in Kazakhstan. - GoalsPromotion of the Islamic Financial System: Protecting the interests of the Islamic financial sector and supporting its growth and development.
Creating a Platform for Collaboration and Knowledge Sharing:Enabling professionals, entrepreneurs, academics, and other participants in the Islamic finance sector to exchange knowledge, experience, and best practices.
Развитие образования и повышение финансовой грамотности: Developing educational programs, seminars, and events to improve financial literacy and raise awareness about Islamic business and finance principles, as well as fostering a pool of specialists in this field.
Chairperson's Welcome Message
Welcome! My name is Madina Tukulova, and I am the Chairperson of the Association of Islamic Finance and Business. I am pleased to introduce our Association and share our mission and objectives with you.
We aspire to make Kazakhstan a leader in Islamic business and finance. Membership in our Association provides a unique opportunity to influence the development of legislation, regulatory norms, and policies in this field. We actively engage with regulatory authorities and government institutions to support and advance the Islamic financial system. We conduct training to create a pool of Islamic finance specialists and improve literacy in Islamic business and finance.
I invite you to join our Association and become part of our movement. Together, we can achieve more in the development and adoption of Islamic business and finance in Kazakhstan.
We aspire to make Kazakhstan a leader in Islamic business and finance. Membership in our Association provides a unique opportunity to influence the development of legislation, regulatory norms, and policies in this field. We actively engage with regulatory authorities and government institutions to support and advance the Islamic financial system. We conduct training to create a pool of Islamic finance specialists and improve literacy in Islamic business and finance.
I invite you to join our Association and become part of our movement. Together, we can achieve more in the development and adoption of Islamic business and finance in Kazakhstan.
➩ My Contacts:
Current Objectives of the Association
Development of Islamic Financial Companies at AIFC
Wide Range of Products: The license covers core financial products such as installment sales, leasing, trust management, and joint partnerships, enabling companies to offer flexible solutions to clients.
VAT and Corporate Income Tax (CIT) Exemptions: These provide a competitive advantage in the market, making products and services more attractive to consumers.
Strict Regulatory Oversight: The license ensures companies' activities are monitored, eliminating the possibility of fraud.
Development of Educational Programs
Provides a stable financial flow for the Association.
Focuses on addressing current tasks such as education and awareness in civil law relations under Islamic norms.
Increases demand for Shariah experts and professionals in the field.
Acts as a primary communication point between the Association and the public, helping to identify current needs and develop strategies to address these challenges.
Development of the Islamic Securities Market
- Sukuk as a Key Instrument: Ensuring further development in areas such as legislation and taxation.
- Tax Incentives for Investors.
- State Program Subsidies.
- Addressing Taxation Issues.
Establishing a Platform for Project and Business Support
Shariah Compliance of Financial Products:
Verification of compliance with Shariah principles to ensure legitimacy in the eyes of consumers and regulators.
Shariah Review of Agreements:
Evaluation of contracts and agreements for compliance with Shariah principles, including investment contracts, shareholder agreements, labor relations, and more.
Development of Alternative Financial Instruments
- Crowdfunding: An effective method for attracting small investments from groups of investors. An example of successful implementation is the company.
- Investment Clubs: Platforms that bring together investors for collective project investments, increasing investment volumes and distributing risks.
- Islamic Digital Assets: Tokens or cryptocurrencies that comply with Shariah norms and are backed by real assets.
- Investment Funds, including Hajj funds.
Monitoring and Market Surveillance Against Fraud
- Improving Awareness: Launching campaigns to inform about potential threats and methods for prevention.
- Monitoring Group: Focuses on identifying and counteracting potential threats.
- Creating a Unified Register of Islamic Financial Companies on the Association's website.
Educational Events
Simple Contracts for Investments
- Our seminars focus on teaching participants how to structure simple contracts such as loans, installments, rentals, and leasing (qard, murabaha, ijarah) under Shariah norms between a project and investors or partners in small and medium-sized businesses (SMEs).
- We will provide you with practical knowledge and tools to achieve financial transparency and success in compliance with Shariah norms.
Islamic Finance in Practice
- Our bootcamp offers a full immersion into the world of Islamic finance away from urban distractions. Over several days, you will study all aspects of Islamic financing under the guidance of leading experts.
- We will discuss key topics such as deal structuring, risk management, and strategy development for successful business operations in line with Shariah norms. This bootcamp will provide you with unique practical knowledge and tools to achieve success in Islamic finance and business.
Introduction to Islamic Finance
- At our business breakfast, we will discuss the principles of Islamic finance, common myths, basic contracts, and the development of Islamic finance in Kazakhstan.
Articles and Resources on Islamic Finance
Association Team
Members of the Association
Membership Benefits
Joining our Association means becoming part of a dynamic and diverse professional community that unites specialists, entrepreneurs, academics, and other participants in the Islamic finance and business sector. The Association provides you with opportunities for sharing experiences, knowledge, and best practices.
The Association facilitates connections with key players in Islamic business and finance, helping you expand your professional network and find potential partners for collaboration and project development.
The Association actively works on the development of legislation in the field of Islamic finance. We participate in consultations, present proposals, and provide recommendations aimed at advancing Islamic financial companies.
The Association provides priority access to events, seminars, conferences, and training sessions specifically designed for professional development in Islamic business and finance. This enables members to enhance their knowledge, exchange experiences, and stay informed about the latest trends and innovations in the field.
The Association offers access to exclusive resources that can help you deepen your knowledge and skills in Islamic business and finance, including research, reports, articles, informational materials, and guides to keep you up to date with the latest trends and principles of the Islamic financial system.
Key Advantages of the Islamic Financial System
- Transparency and FairnessThe Islamic financial system is based on principles of equity, fair distribution of risks and profits, ensuring more equitable conditions for all participants.
- Resilience During Economic CrisesDue to its foundation on real assets and fair risk distribution, the Islamic financial system demonstrates greater resilience to financial crises and economic instability.
- Social ResponsibilityThe Islamic financial system actively supports financing for projects aimed at social welfare and development, such as housing, healthcare, and education.
- Prohibition of Interest and Speculative TransactionsThe prohibition of riba (interest) and speculative operations reduces financial risks, fostering a more sustainable system grounded in the real economy.
Frequently Asked Questions
The Association of Islamic Finance and Business of Kazakhstan is a non-profit organization registered at the Astana International Financial Centre. Our goal is to develop and promote the principles of Islamic business and finance in Kazakhstan.
We offer a platform for collaboration and knowledge exchange among professionals, entrepreneurs, academics, and other participants in the Islamic finance sector. We organize seminars, conferences, and educational programs that contribute to the development of Islamic business and finance in Kazakhstan.
The Association welcomes participants from the Islamic finance and business sector, including professionals, entrepreneurs, academics, academic institutions, and other organizations interested in the development and promotion of Islamic business and finance in Kazakhstan.
We strive to be a center of expertise, education, and information in Islamic business and finance. We conduct research, develop policies, protect the interests of the Islamic finance sector, and work on fostering growth and innovation in this field.
- Email: info@aifb.kz
- Website: www.aifb.kz
To become a member, fill out the form on our website or contact us using the provided details. We will review your application and get back to you with further information.
To become a member, fill out the form on our website or contact us using the provided details. We will review your application and get back to you with further information.
By joining the Association, you gain access to a vibrant professional community, networking opportunities, priority access to events, and exclusive resources that will help you excel in the field of Islamic business and finance.
Visit our website to access resources, publications, and information about events related to Islamic finance and business in Kazakhstan. You can also contact us for additional information or consultations.
You can support our work by becoming a member, actively participating in our events and initiatives, and sharing your professional expertise and knowledge. We also welcome partnerships and sponsorships from organizations that share our mission and values. If you are interested in partnering or sponsoring, please contact us to discuss collaboration opportunities.
How You Can
Help Us
Help Us
As a non-profit organisation, the Association relies on support to achieve its extensive goals and objectives. We appreciate any support or sponsorship contributions. All funds from our events, membership fees, and your support are directed toward the Association's development.
Non-Profit Organisation Association of Islamic Finance and Business Non-Profit Incorporated
The Association holds the following accounts:
BIN: 190740900099
AO "Kaspi Bank":
Non-Profit Organisation Association of Islamic Finance and Business Non-Profit Incorporated
The Association holds the following accounts:
BIN: 190740900099
AO "Kaspi Bank":
- Account: KZ81722S000032107227
- KBe: 18
- BIC/SWIFT: CASPKZKA
Seminar on Islamic Finance
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Association of Islamic Finance and Business
By completing this form, you consent to the collection, processing, storage and transfer of your data by the Law of the Republic of Kazakhstan and Section 9 of the AIFC Data Protection Regulations 2017
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