Al Hilal Bank welcomes Governor of Kazakhstan’s Central Bank to Abu Dhabi

Press release
Published November 9th, 2014 - 06:00 GMT

Al Hilal Bank, the progressive Islamic bank, recently received Kairat Kelimbetov, the Governor of the National Bank of Kazakhstan, Kazakhstan’s Central Bank, at its headquarters in Abu Dhabi. Both parties discussed the key role of Al Hilal Bank as the first and only Islamic bank operating in Kazakhstan.

The meeting was held prior to the banks’ participation in the 10th World Islamic Economic Forum in Dubai. Mohamed Jamil Berro, Al Hilal Bank’s Group CEO, personally welcomed    Governor Kelimbetov in the presence of Al Hilal Chairman H.E. Ahmed Ateeq Al Mazrouei and briefed the guest on the innovative Islamic products offered by Al Hilal. Kelimbetov in turn commended Al Hilal Bank for its pioneering role in the growth and rising popularity of Islamic banking and finance in Kazakhstan.

The UAE and Kazakhstan continue to strengthen their financial and economic ties. Just recently, the Central Bank of the UAE signed a Memorandum of Understanding with the National Bank of Kazakhstan on cooperation in, and exchange of, regulatory information.

Kelimbetov noted the role of Al Hilal Bank’s activities in the development of Islamic finance in Kazakhstan, thanked Mr. Berro for an excellent brief on Al Hilal’s pioneering products and its unique progressive vision for Islamic banking in our country and added that the National Bank of Kazakhstan will continue to support development of Islamic finance in Kazakhstan.

 “Kazakhstan is key market for Al Hilal Bank’s overseas expansion plans. We appreciate the National Bank of Kazakhstan’s support in our efforts to deliver our unique brand of Islamic banking to the country as we continue to raise global awareness on the strengths and economic impact of our sector. We thank Governor Kelimbetov for visiting us.” added H.E.  Al Mazrouei.

“It was a pleasure and an honor discussing the status and future of Islamic banking in Kazakhstan with the Governor of the country’s Central Bank himself. We aim to leverage the stronger banking and financial ties between our countries to place Islamic banking at the core of Kazakhstan’s banking agenda. The World Islamic Economic Forum provides an excellent platform for us to further explore mutual opportunities,” concluded Berro. 

Al Hilal Bank was established in 2008 as a fully owned entity of the Abu Dhabi Investment Council, the investment authority of the Government of Abu Dhabi. It currently manages three overseas branches, all in Kazakhstan.

Background Information

Al Hilal Bank

Al Hilal Bank is owned in full by the Abu Dhabi Investment Council, which is the investment authority of the Government of Abu Dhabi. The bank is working with an authorized capital of 4 billion Dirhams, and is authorized to operate as an Islamic trading bank. Al Hilal Bank aims to become the leading financial institution in the region and to increase the growth of Islamic banking with a new direction, towards new technologies and special services.

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