FSA gives Al Hilal Banking License

    The Kazakh Agency for the Regulation and Supervision of Financial Markets and Financial Organizations issued a license for banking operations to Islamic Bank Al Hilal JSC - first Islamic bank established in Kazakhstan Wednesday, Kazinform cited a press release from the FSA as stating.
    The founder of the Bank is Al Hilal Bank JSC (United Arab Emirates). Al Hilal JSC was established in accordance with an agreement between the governments of Kazakhstan and the UAE to open a Islamic bank in Kazakhstan, ratified on July 7, 2009, Kazinform reports.