ASTANA.  March 15. KAZINFORM  /Serik Sabekov/ Kazakhstan possesses huge potential for Islamic financing. Prime Minister Karim Massimov has said it at a conference on Islamic financing on Monday March 15. According to him, Islamic financing has grown worldwide in the last years, especially in Asia, Gulf States and Europe.

"Moreover, amid the global economic crisis Islamic financing proved to be stable and demonstrated significant growth", the PM noted.

According to the Head of the Government, the principles of Shariah conform to our goals of development and are similar in many respects to our principles of work in participation in risks, ensuring transparency and quality of management.  The most important issue is strong ties between the finances and real sector of economy.

"I am confident that Kazakhstan possesses huge potential for Islamic financing. The Government develops at present its supporting policy in this field. To date we have already several players including Al-Hilal Bank", K. Massimov said.

"We have a number of tasks and huge work in this direction. Therefore I call on you to support us in attraction of Islamic funds and realization of our potential", he added.