From Themalaysianinsider.com: Malaysian trustee firm Amanah Raya Bhd expects to obtain licences to set up Kazakhstan’s second Islamic bank in the second quarter of 2011 and begin operating the lender within a year.
Amanah Raya would have a 55 per cent stake in the joint venture company to be set up, state-run Development Bank of Kazakhstan will own 40 per cent and brokerage Fattah Finance the balance, Malaysia’s Business Times reported…………………………………….Full Article: Source