KazakhstanHalyk Bank shareholders voted to seek an Islamic banking licence.
It would put Sharia-compliant finance on the largest banking platform in Kazakhstan by assets.
Three scholars, including Malaysia’s Aznan Hasan, will sit on a one-year Islamic Financing Principles Council overseeing compliance.
The announcement names no regulator decision date.
How each outlet framed it
- Salaam Gateway
- highlights three-member Islamic Financing Principles Council's expertise (Malaysian capital-markets, Islamic finance law specialists) overseeing Sharia compliance
Sources: Salaam Gateway