ASTANA.  March 15. KAZINFORM  /Damir Baimanov/ The UAE's Al-Hilal Bank is to open its branch in Kazakhstan. This will be the first representation of Islamic banks in our country, Deputy Prime Minister-Minister of Industry and New Technologies Asset Issekeshev has made it public at the Astana conference on Islamic financing today.

"Together with our partners from Abu-Dhabi we are working at present on opening the first branch of Al-Hilal Bank in our country. The branch is expected to start working soon", Issekeshev informed.

The issue of establishment of Al-Hilal Bank was coordinated on inter-state level between Kazakhstan and the United Arab Emirates. The amendments to Kazakhstan's banking legislation, Civil and Tax Codes directed on encouragement of Islamic banking in the country gave an impulse to opening the branch.

The goal of Al-Hilal bank is promotion of economic development and social progress through providing innovation banking solutions for business and community. The bank will focus on corporate sector.