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SECTION NEWS
06/04/16 12:07  MPs adopt Budget Code

 Kyrgyzstan introduces Islamic securities (sukuk)

26/02/16 12:05, Bishkek – 24.kg news agency, by Nargiza OSMONOVA

Introduction of Islamic securities (sukuk) in Kyrgyzstan will be discussed in a round table format. The decision was taken today at a meeting of the parliamentary Committee on Economic and Fiscal Policy.

The initiator of the discussion is the deputy Akylbek Zhaparov (Bir Bol), who said that the draft law on amendments to the Law On the securities market doesn't reflect the specific requirements particular to this type of securities.

Recall, the introduction of Islamic securities is assumed under the agreement on technical assistance between the Government and the Islamic Development Bank (IDB). The initiators explained that the securities, issued according to Islamic principles, provide an opportunity to attract additional investments from the Muslims, who don't want to put up their means in banks at interest (this is contrary to Islamic law), but are seeking income.


URL: http://eng.24.kg/parliament/179460-news24.html
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«When we ran in the elections, we said that would even get the moon and the sun from the sky ».
MP Kamchybek Joldoshbayev at a meeting of Parliament, February 2, 2017.

«What have you done besides sale of donkeys to China?».
Deputy Ryskeldi Mombekov to the head of State Inspectorate for Veterinary and Phytosanitary Safety Kalysbek Zhumakanov at a meeting of Parliament, February 1, 2017.
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