OREANDA-NEWS. September 17, 2009. Nurbank (Almaty), a company listed on Kazakhstan Stock Exchange (KASE), provided KASE with a press release, reported the press-centre of KASE:

Islamic Development Bank (IDB) opened to Kazakhstan-based commercial Nurbank a 10-year USD10 m credit line.

"Today we signed an agreement with Islamic Development Bank on opening a 10-year USD10 m credit line with a 3-year soft period. Interest rate will average to 10- 12 % APR in currency", - Nurbank chairman Marat Zairov said to the media Tuesday at an Interfax-Kazakhstan media center".

The funds will be aimed to boost agriculture processing projects. Within the credit line the IDB will provide direct financing for acquisition of equipment and other fixed assets from foreign and national producers.

Nurbank is actively cooperating with the Islamic Development Bank and its subsidiaries:

In April 2009 a one-year USD5m trade financing credit line was signed with international Islamic trade and financial corporation (ITFC) was signed.

In June 2009 Nurbank signed an agreement on cooperation for insurance of export crediting and investment deals with the Islamic corporation for insurance of investment and export credits (ICIEC).

Nurbank is the core of a financial Nurgroup comprising Nurbank, APF Atameken, Nurpolis, Money Experts, PAIMO Nur-Trust, Leasing company Nur-Leasing.

As on September 1, 2009 according to un-audited consolidated statements, assets of Nurgroup reached KZT305,246 m, net profit - KZT1,767 m.