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2025

May 19, 2025
Astana, AIFC

Ahead of the Islamic Finance and Business Forum 2025, we conducted a study to better understand consumer attitudes. How do people interpret the concept of halal? What do they trust? What do they expect from Islamic businesses? The responses of nearly 100 participants from different regions of Kazakhstan formed the basis of this analytical report.
Click the button below to explore key insights, respondent quotes, and recommendations for developing the sector.

Opening Trust: A Look into the Future of Halal Consumer Behavior in Kazakhstan

Open to professionals, researchers, and anyone working with Islamic principles in economics and business. The Islamic Finance and Business Forum is organized by the Association of Islamic Finance and Business (AIFB) in partnership with the TIDAM communication agency and with the support of the Astana International Financial Centre (AIFC). The forum will bring together over 200 participants from Kazakhstan, Central Asia, and the CIS.
The goal is to discuss the development of Islamic economics, share experiences, and build professional connections.

Start time: 09:00

Leaders and experts in Islamic banking and business

01

Representatives of Islamic banks and financial institutions

03

Regulators, Shariah boards, and government bodies

05

Academics, lecturers, and students

02

PR, marketing, and communication professionals in the halal sector

04

Anyone interested in the development of Islamic business

06

Leaders and experts in Islamic banking and business

01

Representatives of Islamic banks and financial institutions

03

Anyone interested in the development of Islamic business

06

04

PR, marketing, and communication professionals in the halal sector

Regulators, Shariah boards, and government bodies

05

Academics, lecturers, and students

02

05

Recognition and honoring of outstanding women from the CIS and Central Asia in the field of Islamic finance and business

Signing of memorandums supporting the development of Islamic finance and business in Kazakhstan

The role of women in the industry

Real cases and initiatives

Opportunities and challenges

02

Discussion on the industry’s prospects and challenges

Promotion of halal technologies as an integral part of the Islamic industry

04

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Promoting Islamic products

Communications in the halal sector

Use of digital platforms

01

Current state and prospects in Kazakhstan and the region

Global trends

Integration of Islamic tools into the traditional system

02

The role of women in the industry

Real cases and initiatives

Opportunities and challenges

03

Promoting Islamic products

Communications in the halal sector

Use of digital platforms

04

Discussion on the industry’s prospects and challenges

Promotion of halal technologies as an integral part of the Islamic industry

Ceremonies

05

Recognition and honoring of outstanding women from the CIS and Central Asia in the field of Islamic finance and business

Signing of memorandums supporting the development of Islamic finance and business in Kazakhstan

01

Current state and prospects in Kazakhstan and the region

Global trends

Integration of Islamic tools into the traditional system

Workshops

Тopic: How to Create an Islamic Investment Fund

May 20, 2025

10:00 - 13:00

AIFC

Russian

A specialized practical workshop for a professional audience

Date

Time

Place

Language

Format

Target Audience

02

Asset managers and investment executives

Representatives of investment and financial companies

Brokers and operators of Islamic platforms

Legal and Shari’ah consultants

Professionals planning to launch Islamic investment funds

Key Topics

Speakers

01

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The potential and infrastructure of the AIFC for Islamic investment funds and market outlook

Regulatory requirements of the AIFC for fund managers and funds: minimum capital, staffing, internal policies and procedures

Compliance with Shari’ah norms and AAOIFI standards, and their practical application

Madina Tukulova
Head of Islamic Finance at the AIFC

Azat Ötepbay
Founder of the fintech startup Ailat

Adilbek Ryskulov
Shariah scholar and member of Shariah boards of banks and investment companies

55,000 KZT

Price

Format

Language

Venue

Time

Date

Russian

AIFC

10:00 – 13:00

May 20, 2025

Fee

15,000 KZT

Topic: Shariah Review and How to Align Shariah Principles with the Legislation of the Republic of Kazakhstan

General Practical Workshop

Approaches to adapting Shariah-compliant contracts in accordance with the legislation of the Republic of Kazakhstan

01

Overview of Islamic contracts (structure, key terms, and distinctive features)

Shariah Review and its importance in business

Islamic Terms of Trade

Key Topics

Ali Ugai
Sales Director at ADAB Islamic Business Consultants

Abdussalam Davletov
Expert in Islamic Law and Finance at ADAB Islamic Business Consultants

Zhassulan Muzdubayev
Legal Consultant, Managing Director at ADAB Islamic Business Consultants

Makkamzhan Mamedov
Entrepreneur, Founder & CEO of ADAB Islamic Business Consultants

03

Speakers

Legal, financial, and Shariah consultants

Professionals from investment and financial companies

Representatives of Islamic banks, charitable foundations and financial organizations

Private investors

Halal brands, online stores, retail and FMCG companies

Startups and entrepreneurs in search of investments

Entrepreneurs and business owners interested in Islamic business principles

02

For whom

Partnership opportunities range from general to informational sponsorship. We offer a flexible collaboration model, opening new promotion channels and points of contact with the audience, enhancing brand reputation, and strengthening partner positioning in the professional community.

One of the fastest-growing Islamic fintech projects in Central Asia, founded in Tajikistan. Alif is known for its innovative digital products, user-friendly mobile banking, and transparent, Shariah-compliant terms. It combines advanced technologies with spiritual and ethical values in its operations.

ITS is an international liquidity hub that provides investors with access to over 3,000 instruments from leading companies listed in the US and Kazakhstan.
ITS’s strategic mission is to broaden investment opportunities for Kazakhstani and international investors by offering access to a wide range of global securities using innovative trading solutions that are new to the local market.
One of ITS’s key products is the ITS Shariah ETF (ITSS ETF) — the first Shariah-compliant index ETF in Central Asia and the Caucasus. It enables investors to invest in major global companies whose activities align with Islamic principles.

Zaman Bank is an Islamic bank operating on the principles of transparency, accountability, and fairness. It combines the foundations of Islamic finance with a modern approach, offering clear, convenient, and ethical solutions. At its core are respect for the customer, a focus on values, and a commitment to supporting financial well-being regardless of religion or beliefs.

The first Islamic bank registered within the Astana International Financial Centre (AIFC). The bank offers a broad range of Shariah-compliant financial products and services for both individuals and businesses. Al Safi Bank adheres to ethical, fair, and sustainable financing practices, excluding speculative and unfair transactions. As a reliable partner, it contributes to the development of Islamic banking in the region and promotes principles of accountability, transparency, and inclusivity in finance.

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