In Kazakhstan, sharia-compliant banking currently accounts for a marginal share of the Kazakh financial sector. Recent estimates expect that Islamic financial assets in Kazakhstan could reach more soon.
Kazakhstan is preparing the legal framework for Islamic finance products such as the issuance of Islamic bonds (Sukuk) and in order to help financing Kazakhstan's SME it will promote Sukuk, Takaful (Islamic insurance) and halal microcredit.
Currently, Kazakhstan has a number of fully operational Islamic banks which serve retail and islamic corporate banking offering halal financing products such as Ijara, Ijara-wa-iqtina, Mudaraba, Murabaha and Musharaka.
KAZAKHSTAN ONLINE SHARIA BANK