OREANDA-NEWS. July 22, 2010. The State Development Bank of Kazakhstan, the state group of companies of Malaysia AmanahRaya and Kazakhstan “Fattah Finance” JSC will create an Islamic bank in Kazakhstan.

The head Ahmad Rhodzi Pavanteh of AmanahRaya, chairman of State Development Bank of Kazakhstan Gali Iskaliev and chairman of the board of directors of “Fattah Finance” JSC Zaratkazy Nurpeisov signed the plan to establish an Islamic bank on Monday in Astana,

According to Z. Nurpeisov “bank will be established within a year, it will be located in Almaty and have a branch network.”

On the same day the head of AmanahRaya A. Pavanteh, chairman of “Kaznex Invest” JSC Erlan Arinov and head of the board of directors of “Fattah Finance” JSC signed a memorandum on mutual cooperation to develop in Kazakhstan “halal haba” - a logistics center of Halal products and services.