BAKU, Azerbaijan, June 16. The halal industry is one of the key directions for the development of Kazakhstan's economy, Murat Bapaev, Deputy Chairman of the Board of the Kazakhstan Entrepreneurship Development Fund "Damu," said, Trend's correspondent reports from the event.
He made the remark during a panel discussion titled "Halal MSMEs and the Sustainable Transition to a Green Economy, Halal Value Chains, and Inclusive Growth," held as part of the Annual Meeting of the Islamic Development Bank (IsDB) Group in Baku.
Bapaev noted that in 2025, following instructions from the President of the Republic of Kazakhstan, Kassym-Jomart Tokayev, a two-tier guarantee mechanism was established on the basis of the Damu Fund. According to him, these instruments provide entrepreneurs with additional opportunities to secure bank financing and expand their businesses.
"Undoubtedly, the halal industry is one of the key directions for the development of Kazakhstan's economy. If we compare the current situation with the period when Islamic financial instruments were not yet utilized, we can see a significant growth in interest toward this sector," Bapaev said.
