"As is the tradition in Belarus, the closing of a year is also a debriefing of large M&A transactions and real estate transactions,” says Maxim Lashkevich, Partner at Grata International in Belarus.
Kazakhstan adopted relevant legislation for domestic Islamic banking transaction such as the governed Kazakh law more than ten years ago and established the Astana International Financial Center (AIFC) based on the Dubai International Financial Center’s model three years ago, Islamic finance is still in the early stages of its development and Islamic products are rarely used.
Kazakhstan, at least on the surface, seems to have a strong political will to attract investments in renewable energy projects as demonstrated by its official general policy.
GRATA International banking and finance team is pleased to provide you with a brief summary of the major changes to the legislation of the Republic of Kazakhstan in 2019 that may affect your business
The Impact of the Equator Principles on Project Financing in the Republic of Kazakhstan
The number of large infrastructure projects steadily grows in Kazakhstan. Potential investors and the State are looking for finance sources to implement the projects. On one hand, in many cases, in view of the amount of financing, international financial organisations are the most likely funding source. On the other hand, international financial organisations themselves often have an interest in project financing in Kazakhstan.
Islamic Finance challenges in Turkey
Having almost 40 years of history, the Islamic banking sector in Turkey currently only has a 5–6% share of the fi nance market in the country. Out of 40 active banks, six are operating (excluding investment and development banks) under the Participation Banks Association of Turkey (TKBB) as Islamic banks and they have not yet reached the average level of their conventional competitors in terms of profi ts, total assets, deposits and loans.
General considerations regarding the jurisdiction of Austrian
Despite the fact that the political situation in Austria, in comparison with other countries of the Western world, is considered more favorable towards Russia, banks and other service providers have recently begun to treat Russian customers with increasing suspicion and skepticism. Therefore, doing business in Austria or using Austrian jurisdiction for capital management requires additional measures.
There is no doubt that Kazakhstan needs new economic drivers to facilitate the launch of innovative new businesses, to disrupt conventional industries and to transform intellectual capital into innovative start-ups.
Is Kazakhstan finally ready to attract investments into its electricity sector?
The capacity market was finally launched on the 1st January 2019 in Kazakhstan to encourage investment for the renovation of old, as well as construction of new, power infrastructure facilities.