The Ministry of Economy and Commerce of Kyrgyzstan proposes a draft Concept for the Development of the Islamic Economic Platform in Kyrgyzstan for 2022-2027.
The background statement says that the document was developed to ensure accelerated growth through the achievement of sustainable and efficient functioning of the Islamic economy and finance sectors. The population will be able to receive services and products in a competitive environment.
«The draft concept for the formation of Kyrgyzstan as a regional center for Islamic economics and finance for 2022-2027 reveals the vision of the place and role of the Islamic economy as an alternative model in the development of the country and forms a meaningful framework for improving the regulatory legal framework,» the draft resolution says.
Islamic economics and its finances are recognized as a rapidly growing industry that is taking an increasingly important place in the global economy.
To achieve this goal, it is necessary to solve the following tasks:
• Systematization of Islamic economy and finance;
• Awareness raising and training;
• Systematization, identification of the halal industry and assistance to its further development;
• Strengthening the Islamic financial sector;
• Launch of Islamic securities (sukuk) and Islamic insurance (takaful);
• Strengthening the management system in accordance with Shariah;
• Systematization and development of Islamic mortgage housing financing;
• Systematization and assistance to the development of Islamic leasing;
• Promoting the growth of the Islamic fashion industry and halal tourism;
• Systematization of the unified Zeket system.
The concept is a framework document.
