KazNU signed the Tripartite Memorandum on the Development of Islamic Finance

The Memorandum of Understanding dedicated to cooperation in Islamic Finance was signed between Al-Farabi Kazakh National University, Hamad Bin Khalifa University (Qatar), and the Astana International Financial Centre (AIFC) within the framework of the XII Astana Economic Forum.

The AIFC Governor Kairat Kelimbetov, president of Hamad Bin Khalifa University Ahmad Hasna, and Rector of Al-Farabi Kazakh National University Galimkair Mutanov represented parties.

The signing of the Memorandum opens up prospects for promoting the development of the dynamically growing sector of Islamic finance not only in Kazakhstan, but also in the countries of Central Asia. The purpose of cooperation is the formation and development of joint educational and research initiatives in the sphere of Islamic finance, aimed on continuing professional development in order to raise the competences of human capital, as well as academic exchange of professors and students.

The AIFC Governor Kairat Kelimbetov noticed the importance of the Memorandum for all parties, expressing the intention to train professionals in such a relevant and popular specialty as Islamic finance. «Islamic finance is part of the Islamic economy, which is rapidly developing in the world market. The AIFC creates a favorable ecosystem for the development of Islamic finance and this area is one of the main priorities of the AIFC», - he commented.

President of Hamad Bin Khalifa University Ahmad Hasna emphasized the key role of universities in the socio-economic development of any country. «Modern economic challenges go beyond one country and become global. In order to successfully overcome such challenges, as well as build effective cooperation between universities, financial centers and the business sector, it is essential to nurture and keep talents», - he further said.

Rector of Al-Farabi Kazakh National University Galimkair Mutanov noted that the initiated work between parties of the triumvirate would be expanded through Islamic Finance Center, unique in the post-Soviet countries, established on the basis of Al-Farabi KazNU. It is also planned to continue joint research activities and certification training of specialists in the field of Islamic finance, capable of working with the requirements of Sharia

Al-Farabi Kazakh National University, being the leading university in the country, aims at multiplying knowledge of Islamic Finance at the national level and the entire Central Asian region.

www.kaznu.kz