KazAgroFinance JSC, which is part of the Baiterek National Managing Holding, and the Islamic Corporation for the Development of the Private Sector (ICD) have signed a Memorandum of Cooperation. The document was signed during the IsDB Group Annual Meetings 2026, the annual gathering of the Islamic Development Bank Group, one of the leading international platforms for Islamic finance that brings together development institutions and governments of member countries.The agreement gives KazAgroFinance JSC the opportunity to attract up to KZT 20 billion in Islamic financing. The funds will be directed toward supporting agricultural producers in Kazakhstan, including the purchase of agricultural machinery and equipment, as well as the modernization of production assets.
Financing for the company’s clients is planned to be provided through the Islamic leasing mechanism Ijara. The terms of such financing provide for all transaction parameters to be agreed upon in advance and fixed for the entire duration of the contract.
The company noted that the mechanism fully complies with the principles and ethical standards of Islamic finance.
Source: https://agrosearch.kz/en/news/kazagrofinans-privlecet-islamskoe-finansirovanie-dlya-podderzki-agrariev
