Jun 19 2011 |
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Kyrgyzstan has eyes for Takaful
By John Foster Local press has reported that Kyrgyzstan in Central Asia is in the process of introducing Takaful and other Islamic financial products.The state-owned Russian International News Agency, RIA Novosti quoted Kyrgyz deputy PM, Omurbek Babanov, who was speaking at the World Islamic Economic Forum in Astana, Kazakhstan.
He said: "We are currently promoting the principles of Islamic financing based on a memorandum of mutual understanding between Kyrgyzstan and the Islamic Development Bank," and put the development of Takaful in Kyrgyzstan at the top of the list.
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