Kazakh government should
concentrate on attracting
cross-border Islamic financing
Though Kazakhstan adopted relevant legislation for domestic (such as the governed Kazakh law) Islamic banking transactions more than seven years ago and has a Muslim population of over 11 million, Islamic finance is still in the early stages of its development and Islamic products are rarely used. According to the National Bank of Kazakhstan (NBK), as of 2018, the share of Islamic banking assets account for only 0.16% of total banking sector assets in Kazakhstan.
23.01.2019
The following is an outline of some of the major legal developments in Kazakhstan last year, and a selection of key changes that we anticipate for business, including Islamic finance, for this year.
Almaty Light Rail Transit project in Kazakhstan
On the 29th November 2018, Almaty, the former capital and the largest city in Kazakhstan, received responses from nine international consortia, consisting of companies from Japan, France, Russia, Turkey, Spain, China and Kazakhstan, to participate in the first stage of the open tender of the Almaty Light Rail Transit (LRT) public-private partnership (PPP) project.
Chambers&Partners Asia-Pacific
2019 released
GRATA International has cemented its position as one of the leading firms in Central Asia and Caspian region, following the release of major international legal rating Chambers&Partners Asia-Pacific 2019. GRATA International has secured a ranking in Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan.
16.11.2018
On 8-9 November 2018, the XIII Kazakhstan Forum of Corporate Lawyers was held in Almaty.
15.11.2018
For another consecutive year GRATA International received high appraisals from Asialaw profiles, one of
the leading legal guides to top law firms and practitioners in Asia-Pacific.
the leading legal guides to top law firms and practitioners in Asia-Pacific.
Natural monopolies in Kazakhstan: The right time to invest?
The importance of the so-called natural monopolies in Kazakhstan can be seen in the fact that some of Kazakhstan’s largest and most powerful corporate empires, such as the KEGOC (national transmission grid operator) and KTZ (national railway company), are officially subject to natural monopoly regulation.
29.10.2018
After successfully passing the exam and obtaining an advocate license, Shaimerden Chikanayev joined the Almaty City Bar and received the status of an advocate, granting him the right to protect the interests of his clients now not only in civil but also in criminal and administrative matters.
Agricultural business in
Kazakhstan and opportunities for
Islamic
finance
Agriculture is one of the most attractive sectors of Kazakhstan’s economy. Kazakhstan has approximately 24 million hectares of arable land and 188 million hectares of pasture.
Law of the Republic of Kazakhstan
On Public-Private Partnership
(unofficial English translation)
This Law determines legal conditions of public-private partnership, ways of its implementation, and regulates social relations arising during preparation and implementation of public-private partnership projects, execution, performance and termination of public-private partnership agreements.
Partner
Almaty, Kazakhstan