KASE added stock screening for Islamic investments

Kazakhstan Stock Exchange (KASE) and the Ailat fintech ecosystem have joined forces to launch an online screening of securities for compliance with Islamic norms. Access to screening results will be available on the KASE website from September 09.

The assessment process consists of three stages. First, indicators are automatically calculated using AI, then expert verification takes place, and the final assessment is made by the Sharia Supervisory Board in accordance with AAOIFI standards.

"Development of Islamic finance is one of the important areas for expanding the capabilities of the Kazakhstan's capital market. We see strong interest in ethical investments from both local and international participants, and strive to make our market as transparent and attractive as possible", noted Adil Mukhamejanov, KASE's Management Board Chairperson.

Deputy Chairperson of the KASE's Management Board Ainagul Iskakova emphasized the exchange's gradual introduction of innovative services: "Partnering with Ailat will allow us to leverage cutting-edge AI technologies and provide investors with access to verified securities directly on our platform".

"Integration of the Ailat fintech ecosystem with the Kazakhstan Stock Exchange is a strategic step in development of the ethical finance market not only in Kazakhstan but throughout Central Asia. By introducing cutting-edge screening technologies on a world-class platform, we help market participants safely and transparently invest in permitted securities, strengthening our region's position as a global hub for Islamic finance", noted Azat Otepbay, founder of Ailat.

About the Ailat ecosystem:

The Ailat ecosystem brings together financial and technology services focused on supporting the families, businesses and sustainable economy development. The project's main idea is to help people make informed financial decisions, protect capital from unauthorized instruments and channel it into real assets that generate income and benefit society.