President of Kazakhstan signed amendments to draft on issues of organization and actrivity of Islamic banks and organization of Islamic financing
12.02.2009. Category:Kazakhstan
President Nursultan Nazarbayev signed law 'On making amendments and additions on making amendments and changes to some legislative acts of the Republic of Kazakhstan on the issues of organization and activity of the Islamic banks and organization of Islamic financing,' which is aimed at implementation in the republic of the system of Islamic banking, agency reports with reference to press service of the president.
The main aim of the draft is implementation of tools of Islamic financing. The draft considers creation of legal basis of functioning of Islamic banks, Islamic special financial company, as well as implies particularities of banking and other operations of the Islamic bank, towards which acceptance of non-interest deposits on demand of individual and juridical entities, banking loans operations on terms of urgency, returning in the form of per cent.
The main aim of the draft is implementation of tools of Islamic financing. The draft considers creation of legal basis of functioning of Islamic banks, Islamic special financial company, as well as implies particularities of banking and other operations of the Islamic bank, towards which acceptance of non-interest deposits on demand of individual and juridical entities, banking loans operations on terms of urgency, returning in the form of per cent.