Astana International Financial Centre (AIFC)

Islamic Finance Centre opens in #Kazakhstan

Qatar's Hamad Bin Khalifa University (HBKU), Al-Farabi Kazakh National University, and Astana International Financial Centre (AIFC) have opened an Islamic Finance Centre (IFC) in Kazakhstan. The opening ceremony was attended by HBKU president Dr Ahmad M Hasnah, along with the rector of Al-Farabi University, Dr Galym Mutanov, and AIFC board vice chairman Yernur Rysmagambetov. The IFC is equipped with the most advanced technological tools offering training programmes with the aim of becoming a research hub and educational cluster in Islamic finance. HBKU's College of Islamic Studies (CIS) will support this centre and the two institutions will be working on student exchange programmes, joint conferences, and mutual research projects.

Official Launch of the IFSB Islamic Financial Services Industry Stability Report 2018 at the Astana Islamic Economy Forum

Astana International Financial Centre (AIFC) officially launched the sixth edition of the Islamic Financial Services Industry (IFSI) Stability Report 2018. The Secretary-General of the IFSB, Dr. Bello Lawal Danbatta highlighted some of the key findings of the 2018 Report, particularly the rising domestic systemic significance of Islamic finance in many key jurisdictions. According to the report, the global IFSI has returned to a robust growth of 8.3%, following two years of growth stagnation. While Islamic capital markets marked a strong performance in 2017 on the back of sovereign sukuk issuances, some underlying weaknesses persisted from the previous year, including those in the corporate sukuk market. The takaful sector continues to face challenges as a result of stiff competition from larger and more established insurance companies.

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