THE CENTER OF ISLAMIC FINANCE OPENS IN KAZNU FIRST IN THE POST-SOVIET SPACE

The project was implemented in cooperation with Al-Farabi KazNU with the International Financial Center Astana (AIFC) and Hamad Bin Khalifa Qatar University. 

Rector of KazNU Galym Mutanov, President of the Hamad Bin Khalifa University Dr. Ahmad Hasna, Vice-Chairman of the AIFC Board Yernur Rysmagambetov, representatives of financial institutions, teachers and students took part in the opening ceremony. 

The unique Center, equipped with the latest technology and modern software, will provide training in exchange trading skills, the basics of fundamental and technical analysis, and financial engineering. There will also be the possibility of practical investment of funds in the desired market segment and cooperation with the largest exchanges. The Center will become a research and educational cluster on Islamic finance.

During the event, there was held a round table entitled «Discovering the Possibilities of Islamic Finance in Kazakhstan». In his speech, Rector of KazNU highlighted that the training of highly qualified personnel is one of the main factors for the growth of the innovation economy, and the trilateral partnership, which will be formalized within the Astana Economic Forum, will certainly create the foundation for successful and fruitful cooperation.

«Partnership with a leading University in Kazakhstan is a great honor for us. I consider it deeply symbolic that the opening of the Center took place in the holy month of Ramadan. KazNU is our best partner in promoting Islamic finance. Our common goal is to develop relationships based on success and prosperity. I look forward to the moment when we congratulate our first graduates», - Dr. Ahmad Hasna said in his welcoming speech. 

According to Ernur Rysmagambetov, the AIFC prepares professionals for the future, and positive global experience in the development of financial centers is important, where human capital is the main key factor for development. He also noted the leading role of KazNU in the preparation of highly qualified specialists in Islamic finance.

The University aims to multiply the knowledge of Islamic finance both at the national level and internationally. Increasing the theoretical and practical financial literacy on Islamic finance at the University will contribute to the revitalization of the Islamic banking sector, as well as increasing the number of subjects of exchange trading in Islamic securities.

Ensuring business with long-term loans, developing the stock market and attracting foreign investors, improving measures for financial literacy of citizens are key areas for further dynamic development of the financial sector of Kazakhstan. In this, investment resources of Islamic finance can be a reliable and promising instrument.