CENTRAL ASIA: Islamic finance shows promise - Oxford Analytica

Report title: CENTRAL ASIA: Islamic finance shows promise

from Oxford Analytica
1300 word report published May 08, 2009

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Abstract:

In the past two years, Islamic finance has flourished across former Soviet Central Asia. Islamic finance is becoming especially popular in Kazakhstan and Kyrgyzstan, the first CIS states to develop a legal framework for Islamic banks and other financial institutions. The growth of Islamic finance has not only diversified the banking sector in Central Asia; it has also served as a useful means of strengthening ties with Arab and other Muslim-majority states.

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CENTRAL ASIA: Islamic financeCENTRAL ASIA: Islamic finance shows promise The economic and political significance of Islamic finance in Central Asia. In the past two years, Islamic finance has flourished across former Soviet Central...

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Oxford Analytica

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RUCIS, Central Asia, Gulf states, China, CIS, Germany, Iran, Japan, Kazakhstan, Kuwait, Kyrgyzstan, Malaysia, Oman, Qatar, Saudi Arabia, Tajikistan, Turkmenistan, United Arab Emirates, United Kingdom, United States, Uzbekistan

Topic:

economy, international relations, aid, banking, debt, finance, foreign investment, growth, integration, investment, population, social, foreign policy, poverty, religion

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GEOGRAPHIC REGIONS : RUCIS, Central Asia, Gulf states, China, CIS, Germany, Iran, Japan, Kazakhstan, Kuwait, Kyrgyzstan, Malaysia, Oman, Qatar, Saudi Arabia, Tajikistan, Turkmenistan, United Arab Emirates, United Kingdom, United States, Uzbekistan

TOPICS : economy, international relations, aid, banking, debt, finance, foreign investment, growth, integration, investment, population, social, foreign policy, poverty, religion

SIGNIFICANCE : In the past two years, Islamic finance has flourished across former Soviet Central Asia. Islamic finance is becoming especially popular in Kazakhstan and Kyrgyzstan, the first CIS states to develop a legal framework for Islamic banks and other financial institutions. The growth of Islamic finance has not only diversified the banking sector in Central Asia; it has also served as a useful means of strengthening ties with Arab and other Muslim-majority state

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