Regulatory initiatives across several Central Asian countries since the start of 2026 and increasing engagement with GCC investors and Islamic multilateral institutions are likely to support the Islamic finance industry’s growth potential in this region, Fitch Ratings says. Unlocking this potential would require sustained policy support, equal tax treatments, and greater public … [Read more...]
FitchRatings: Islamic Finance Shows Potential in Central Asia as GCC Ties Deepen
Kazakhstan and Kyrgyzstan could lead Central Asian Islamic finance industry growth over the medium-to-long term, although the industry is likely to remain niche, Fitch Ratings says. Government initiatives to tap funding from the Gulf Cooperation Council (GCC) countries and Islamic multilateral institutions, diversifying the financial sector and boosting financial inclusion, … [Read more...]