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Islamic finance treads fine political line in Kazakhstan

Posted on 03 July 2012

Two decades after the collapse of the Soviet Union freed Kazakhstan from Marxist ideology, the country of 17 million people is making a bid to become a regional centre of Islamic finance, which is based on religious principles including bans on interest and pure monetary speculation.
Strongman President Nursultan Nazarbayev, in power since Soviet times, has declared he wants Almaty to become a hub for Islamic banking in the former Soviet Union, which includes other majority Muslim states and Russian republics such as Tatarstan…………………………………Full Article: Source

 
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