It is reported by the press service of the bank Al Hilal.

“JSC Islamic Bank Al Hilal launches the first Islamic mortgage in Kazakhstan. The residents of Almaty, Astana and Shymkent will be able to take advantage of the new product built on the principles of Islamic finance, both for the purchase of housing and for refinancing an existing mortgage in another bank. In this new product is designed for everyone, regardless of religion,“ reads the statement.

The Islamic mortgage differs from the traditional lack of interest rate, since it is prohibited by the rules and principles of Sharia.

“The Qazaq Times”