BAKU, Azerbaijan, June 16. The halal industry
is one of the key directions for the development of Kazakhstan's
economy, Murat Bapaev, Deputy Chairman of the Board of the
Kazakhstan Entrepreneurship Development Fund "Damu," said, Trend's correspondent reports
from the event.
He made the remark during a panel discussion titled "Halal MSMEs
and the Sustainable Transition to a Green Economy, Halal Value
Chains, and Inclusive Growth," held as part of the Annual Meeting
of the Islamic Development Bank (IsDB) Group in Baku.
Bapaev noted that in 2025, following instructions from the
President of the Republic of Kazakhstan, Kassym-Jomart Tokayev, a
two-tier guarantee mechanism was established on the basis of the
Damu Fund. According to him, these instruments provide
entrepreneurs with additional opportunities to secure bank
financing and expand their businesses.
"Undoubtedly, the halal industry is one of the key directions
for the development of Kazakhstan's economy. If we compare the
current situation with the period when Islamic financial
instruments were not yet utilized, we can see a significant growth
in interest toward this sector," Bapaev said.
