Kyrgyzstan Keen To Learn
Malaysia's Model Of Islamic Economy
By Mohd Arshi Mat Daud
June 28, 2008 18:15
KUALA LUMPUR, June 28 (Bernama) -- The Kyrgyzstan
government plans to introduce takaful (Islamic
insurance), Islamic bond and production of halal products after having
introduced Islamic banking one-and-a-half years ago, said Shamil M. Murtazaliev, advisor to the president of Kyrgyz Republic.
"InsyaAllah, I will lead a delegation to
Malaysia next month to meet Malaysian companies involved in takaful,
sukuk and the halal industry," he told Bernama recently.
"We want to adopt the Malaysian model of Islamic economy including how to
manage haj pilgrims under a specialised
body," he said.
The republic has undertaken a pilot project to implement Islamic bank as part
of the republics adoption of a dual banking system comprising Islamic and
conventional. The conversion was assisted by two experts, one of whom is a
It is now the most profitable bank among Kyrgyzstan's 22 banks, he said.
He said there was a big potential for Malaysian companies to engage in the
production of halal products in Kyrgyzstan as demand for the products
"All products with halal signs will be positively perceived in our
country. Our main target is to raise the number of halal food production,"
Murtazaliev disclosed that a new halal legislation
would be introduced in the republic soon to ensure that the environment was
conducive for Malaysian companies to operate.
The former Soviet state is a landlocked country in Central Asia bordering
Kazakhstan, China, Tajikistan and Uzbekistan. Eighty percent of its 5.01
million population are Muslims.
Agricultural processing is a key component of the industrial Kyrgyz's economy,
as well as one of the most attractive sectors for foreign investment.