Development Bank of Kazakhstan says bank subsidiary financed first transaction under Islamic leasing

25.02.16, 16:07
/KASE, February 25, 16/ – Development Bank of Kazakhstan JSC (Astana), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), provided KASE with the following press release: quote Subsidiary of Development Bank of Kazakhstan, DBK-Leasing JSC, the part of Holding "Baiterek" (hereinafter "DBK-Leasing"), has opened a long-term lease financing (up to 10 years) of the project for the tank wagons supply to organize the rail transportation for Eastcomtrans LLP. The transaction amounting to more than KZT1.1 bn was the first project funded by DBK-Leasing on the conditions of Islamic leasing – "Ijara". The source of funding to organize this transaction were the funds raised by Development Bank of Kazakhstan in 2012 during the debut Islamic bonds "Sukuk" issue for the CIS issuers. unquote Full press release is available on KASE website in Russian at http://www.kase.kz/files/emitters/BRKZ/brkz_reliz_250216.pdf [2016-02-25]