Rabat- The Astana International Financial Center (AIFC) and World Islamic Economic Foundation will host the 14th annual World Islamic Economic Foundation (WIEF) at the EXPO Congress Centre in Astana, Kazakhstan on July 4, 2018.
“We are delighted to the host for WIEF’s 14th edition. Cooperation with the WIEF Foundation can be very productive and assist AIFC to continuously strengthen our role in the development of the financial market in Kazakhstan,” said Mr. Kairat Kelimbetov, Governor of Astana International Financial Centre.
In their 2017 Islamic Finance Development Report, Thomson Reuters indicated that the Islamic finance industry is predicted to experience robust growth, reaching USD 3.8 trillion by 2022, from USD 202 trillion at the end of 2016.
The forum seeks to capitalize on this growth and promote cooperation between Muslim entrepreneurs, companies, and governments in member states of the Organization of the Islamic Conference.
The 14th WIEF program will focus primarily on fostering strategic alliances to promote idea exchanges and strengthening networking within Islamic finance and banking through several sessions covering areas ranging from Islamic Fintech to maintaining a halal lifestyle in the technological age
This will be the second time Kazakhstan has hosted the WIEF, the first time was in July 2011. Over the past several years, the country has shown keen interest in diversifying its economy beyond from natural resources and developing its financial services market.
As of February 2018, the AIFC Financial Services Regulatory Committee has registered 10 companies as participants in the AIFC, including the China Development Bank. “It is planned that about 100 companies will be registered by the end of 2018,” stated Governor Kelimbetov.
Prime Minister Bakytzhan Sagintayev has noted the significance of the AIFC, as the project strives to attract investments and create appropriate conditions for stimulating investment activity.
