/KASE, March 30, 12/ - Development Bank of Kazakhstan (Astana), bonds of which are officially listed on Kazakhstan Stock Exchange (KASE), provided to KASE the following press release of March 30, 2012:

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On March 14, 2012, the Board of Directors of Development Bank of Kazakhstan (hereinafter - the Bank) decided to issue and offer short-term Islamic bonds in compliance with the legislation of Malaysia.

The supposed issue volume of this bond program - up to USD500 mln. It is expected that the initial issue volume will make up USD200-300 mln for at least 5 years.

At this phase, the Bank jointly with its advisors addressed regulatory bodies of the Republic of Kazakhstan to define the order and organization of Sukuk "Al-Murabaha" bonds issue and offering.

Sukuk "Al-Mubaraha" - a type of Islamic finances borrowing, when the creditors interest is not accrual of interest on a principal debt, but the difference between the price of buying by creditors and the price of selling to a borrower of exchange commodities.

Development Bank of Kazakhstan was established in 2001. The Bank main activities include development of the production infrastructure and processing industry, facilitation of internal and external investments to the country economy.

Department for International Relations of Development Bank of Kazakhstan tel. (7172)792600, вн.7425,8 702 723 77 29 Ainur Djumadilova, e-mail: ainurj@kdb.kz www.kdb.kz

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[2012-03-30]