International Journal of Entrepreneurship (Print ISSN: 1099-9264; Online ISSN: 1939-4675)


Islamic Banking Development in Asian Countries: Under the Republic of Kazakhstan

Author(s): Serik Kairdenov, Anargul Belgibayeva, Indira Ashimova, Irina Savchenko

A detailed study of the characteristics of the second-tier banks and the phenomenon of Islamic bank aims to reveal some distinctive features of Islamic banks. These features include traditional, culturological and ethical values, economic attractiveness, which lies in the geo-economic proximity of the post-Soviet states and the Arabian monarchies, religious orientation, on which the entire economy of Islamic countries is based, the importance of principles and regularities of banking operations in view of new trends in international economic development. The purpose it to involve regional groups, transnational corporations and other actors of the world economy with monetary, financial, trade, industrial, and labor relations. The novelty is that this requires finding alternative solutions to pressing problems of the banking sector of the economy of Kazakhstan and other Central Asian countries which was described in the article. The main conclusion of the research on Islamic banks is that the performance of Islamic banks is strongly influenced by the number and volume of deposits, which in turn affects the policy behavior and management of Islamic bank.

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