Central Bank Management Shuffle Could Revive Islamic Finance

News: The Kazakhstan government's shuffling of central bank heads could revive efforts to boost Islamic finance in the country and transform it into a regional hub for the sector, Reuters reports. President Nursultan Nazarbayev removed central bank head Grigori Marchenko earlier in October 2013 in favour of Deputy Prime Minister Kairat Kelimbetov. Yerlan Baidaulet - the Kazakhstand member of the board of executive directors of Jeddah-based Islamic Development Bank - said that the move could advance the development of Islamic banking in the country, particularly as Kelimbetov's predecessor had 'tried to stop everything' while in the post.

Central Bank Management Shuffle Could Revive Islamic Finance

News: The Kazakhstan government's shuffling of central bank heads could revive efforts to boost Islamic finance in the country and transform it into a regional hub for the sector, Reuters reports. President Nursultan Nazarbayev removed central bank head Grigori Marchenko earlier in October 2013 in favour of Deputy Prime Minister Kairat Kelimbetov. Yerlan Baidaulet - the Kazakhstand member of the board of executive directors of Jeddah-based Islamic Development Bank - said that the move could advance the development of Islamic banking in the country, particularly as Kelimbetov's predecessor had 'tried to stop everything' while in the post.

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