The Director General of the Islamic Organization for Food Security, Yerlan Baydaulet, announced the country's plans to establish an international food hub. Speaking at a seminar organized by the organization, Yerlan Baydaulet highlighted the goal of attracting investments from Islamic countries to the Middle East. He noted that while the law on Islamic financing was adopted in 2009-2010, the lack of full support for certain articles had hindered progress. However, with the development of the Astana International Financial Center, the business environment began to revive, and this year investments from the Islamic world are being carried out by Sharia principles through sukuk certificates.
Yerlan Baydaulet further mentioned that Kazakhstan recently issued sukuk certificates worth 2 billion tenge for the development of leasing operations, marking the first instance of securities being issued in the national currency. This development demonstrates Kazakhstan's interest in attracting investments through Islamic financial instruments and highlights the relevance of Middle Eastern investors in this regard. The Islamic Organization for Food Security is actively working on the development of Kazakhstan as an international food center, and the seminar on "Sukuk for investments in agriculture" aims to facilitate interaction with Middle Eastern investors and foster cooperation in the agricultural sector.
Minister of Agriculture Yerbol Karashukeyev has previously emphasized that entering the Islamic finance market and exploring additional sources of financing for the domestic agro-industrial complex is a priority. The seminar, which brought together representatives from competent state bodies, industry experts, and foreign guests, serves as a platform to discuss the potential of sukuk and its application in the agricultural sector. Kazakhstan recognizes the significance of Islamic finance as a means to attract investment and promote sustainable development in the agro-industrial sector.
The original version of the article can be found below:
https://www.inform.kz/ru/stanet-li-kazahstan-mezhdunarodnym-prodovol-stvennym-habom_a4082078
