ITS joins Islamic Finance and Business Association of Kazakhstan
ITS has become a member of the Islamic Finance and Business Association (AIFB), registered under the jurisdiction of the Astana International Financial Centre.
The AIFB was founded as a unifying platform for Islamic finance and is actively working to create the conditions necessary for the practical implementation of Islamic finance principles in Kazakhstan. It brings together professionals, entrepreneurs, scholars and industry leaders, while also collaborating closely with regulatory bodies and government institutions to support and advance the development of Islamic finance in the country.
“We are actively working to develop and promote halal investments. In recent years, this field has rapidly gained popularity and is in high demand. Our first step in this direction was in 2023 when we launched the ITS Shariah Index. I am confident that our collaboration with the Association will lay a strong foundation for the growth of Islamic business and finance in Kazakhstan,” said ITS CEO Chingiz Kanapyanov.
The ITS Shariah Index includes shares of 30 leading companies that comply with Shariah requirements and are listed on ITS. The next step will be the launch of the first Shariah-compliant ETF index fund based on the ITS Shariah Index in Central Asia and the Caucasus.
"The inclusion of companies like ITS is an important step toward expanding opportunities for halal investments and attracting global market attention. I am confident that our cooperation will provide a solid foundation for the long-term, sustainable development of Islamic finance in our country and the region as a whole," said Madina Tukulova, AIFB Chairwoman.
About ITS
ITS is an international liquidity hub. Central to ITS's business model are the principles of best execution and smart order routing technology. These principles enable investors to execute securities transactions at the best prices available on the global financial market, regardless of the transaction volume. This technology ensures that the liquidity for foreign securities on ITS matches that of leading international platforms where these securities are traded.
ITS Central Securities Depository Limited, the central depository for ITS, offers depository services for the storage and settlement of securities.
Operating a clearing house that acts as a Central Counterparty, ITS assumes the counterparty role for all obligations of clearing participants and manages the clearing process for transactions on the ITS trading platform.
ITS also calculates its own indexes: the ITS World index (ITSW) and the ITS Shariah index (ITSS).
ITS's direct clients include professional securities market participants from Kazakhstan and other countries, such as financial intermediaries who are accredited and directly registered at the AIFC. Investors, both private individuals and legal entities, access trading through these financial intermediaries, such as brokers and banks.
ITS Press Service
pr@itsx.kz