From Bloomberg: Kazakhstan, the former Soviet republic that last sold international debt in 2000, is planning a debut Islamic bond sale to broaden its investor base after canceling a Eurobond offering last week.
The government will sell securities that comply with Islam’s ban on interest payments in the second half of the year and is pressing for legislative changes that would enable companies beyond state holdings and Islamic banks to sell sukuk, said Aibek Bekzhanov, head of Islamic instruments at the Regional Financial Center of Almaty, a government agency set up to develop the country’s capital markets……………………………………….Full Article: Source