Al Hilal Bank has opened its first client service branch in Almaty, Kazakhstan. Following 7 successful years of business in Kazakhstan with corporate clients, the bank decided to enter the retail segment of the market to make Islamic financial products available to individuals. The new retail office provides a full range of Sharia-compliant banking services for corporate and private customers.

Commenting on the expansion, Alex Coelho, CEO of Al Hilal Bank, said, "This opening marks a new phase in our vision of global Islamic banking; one that will bring prosperity and better serve the needs of our customers within our shared interests."

At the opening ceremony of the new branch at Esentai Tower, Gordon Haskins, CEO of Al Hilal Bank Kazakhstan, said, "In an effort to promote further development of Islamic finance in Kazakhstan and make it available to individuals, we have launched retail products and opened our first branch in Almaty. The Islamic finance sector remains the fastest growing in the global financial system, increasing by 15-20 percent per year. In Kazakhstan, Islamic finance has a great potential for development. As the flagship of Islamic banking in Kazakhstan, we aim to bring benefits and establish benchmarking of Islamic financial instruments in the region."

Source: WAM