ASTANA, Kazakhstan, May 22. Kyrgyzstan,
Kazakhstan, and Uzbekistan have established a regional alliance to
develop Islamic finance in Central Asia, Trend reports via the Astana International
Financial Centre (AIFC).
The multilateral agreement was signed by sector associations
from the three nations during the 2nd Islamic Finance and Business
Forum 2026 in Astana.
The new regional alliance comprises the Islamic Finance
Association of Kyrgyzstan, the Islamic Finance and Business
Association of Kazakhstan, and the Islamic Finance and Takaful
Association of Uzbekistan. The collaborative framework is designed
to build joint technical expertise, promote the region's
cross-border investment opportunities, and enhance networking among
market players.
The forum, hosted by the AIFC in partnership with the AIFB and
Tidam communications agency, brought together state regulators,
financial institutions, Shari'ah scholars, and international
investors. The event featured presentations of emerging financial
instruments, including Islamic leasing, digital investment
platforms, and dedicated transaction structuring mechanisms. The
participants also reviewed necessary regulatory amendments aimed at
standardizing the legal framework to make the Central Asian Islamic
finance market more transparent for corporate entities and
institutional investors.
