The Commonwealth of Independent States (CIS) countries are emerging as a region of opportunity for Islamic finance. The financial sectors in the frontier CIS countries are expected to record robust growth in the near term, further supported by CIS governments’ moves towards re-integrating with the European Union.
In 2012, the state owned Development Bank of Kazakhstan issued a RM240mln ringgit-denominated sukuk (USD76mln), marking the first sukuk issuance from a former Soviet state.
The region’s growing wealth and supportive regulatory structures, combined with the need for infrastructure financing and access to financial services for the population, provide the ideal circumstances for Islamic finance to take root.
The main topics the report covers are:
- Demographics and economic potential
- Key economic and trade activity
- Islamic finance potential and recent progress in CIS
- Key Islamic finance developments in CIS countries
Download Full Report: 
CIS Region – A Growing Oppurtunity for Islamic Finance (4MB)
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