Kazakhstan, Malaysia should act on Islamic financing

KUALA LUMPUR – Malaysian Deputy Finance Minister Datuk Dr. Awang Adek Hussin April 21 said Malaysia and Kazakhstan should follow up on their recent memorandum of understanding (MOU) to implement an Islamic financing system in Kazakhstan, the Malaysian news agency Bernama reported April 21.

Follow-up would enable Malaysia, which has Islamic financing expertise, to make a bigger contribution to implementation of the system in Kazakhstan, he said.

Kazakhstani President Nursultan Nazarbayev visited Malaysia last week and the two countries signed a number of MOUs linked to education, tourism and natural resources. Nazarbayev showed great interest in promoting Islamic financing in Kazakhstan, “probably because both countries have a similar background of government based on Islam,” Awang Adek told Bernama.

Malaysia and Kazakhstan also plan joint ventures to produce halal food, Nazarbayev said April 18, according to B News.