To the issue of the development of Islamic leasing in Kazakhstan through the prism of the experience of Western European countries

Abstract

This article emphasizes the role and importance of Islamic financing standards for the development
of the economy of any state, including Kazakhstan. Therefore, the Republic of Kazakhstan has set itself an odious
task - to become a major regional part in the field of Islamic finance. It is for this reason that the problem of the
development of Islamic leasing (ijara) was fixed as one of the priority directions of the work of the International
Financial Center «Astana» (IFAC).
In this connection, the experience of such European countries as Germany, Great Britain on the development of the
Islamic financial system in particular, sukuk and other bonds was studied. The problems of formation and development
of Islamic leasing are reflected in stages. An attempt has been made to reflect some problems of Islamic finance in
relation to the economy of Kazakhstan, in particular the creation of Islamic leasing companies, the issue of Islamic
lease certificates, etc. Also, attention is paid to the creation of a legislative base in the Republic of Kazakhstan that
facilitates the introduction of Islamic leasing operations into Kazakhstan’s economy.
In addition, justifying the relevance of the topic, the specific goals and objectives of the study are set. The article
is written on the basis of general scientific methods. The work also gives recommendations on eliminating existing
shortcomings and improving the development of the Islamic leasing market in Kazakhstan.