Why Islamic finance fits well in Kazakhstan’s PPP projects

Kazakhstan authorities have come to recognize that they cannot fi nance the necessary investments in public infrastructure from current budgets and that a major part of future fi nancing must fl ow from the private sector. The need for the infl ow of capital is becoming even more pressing because of the sharp decline in Kazakhstan’s commodity revenue. As a result, the authorities in Kazakhstan are trying to off er some fi scal incentives and optimize the legal framework to encourage private investment in public assets, including by way of public-private partnerships (PPPs).

By Shaimerden Chikanayev

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Shaimerden Chikanayev

Partner, Director of Banking & Finance Department