Kazakhstan to expand opportunities for Islamic insurance
Source: Middle East Insurance Review | Nov 2026
Kazakhstan plans to facilitate the development of takaful and expansion of the range of Shariah-compliant insurance products, including allowing the forming of takaful windows.
The initiative is provided for in the Programme for the Development of the Insurance Market for the years up to 2030, said the Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan.
The legislative framework for Islamic insurance in Kazakhstan has been in effect since 2015. However, Islamic insurers have not yet been established in the country, and takaful products are not widely used. Insurance companies have hesitated on this because existing rules require the establishment of a separate legal entity and obtaining a separate licence to carry out Islamic insurance. Takaful windows will allow insurance companies to offer Shariah-compliant products without creating a separate insurance entity. M