Kazakhstan Ijara Company JSC is “the first Islamic Leasing Company”, incorporated in April 2013 in Kazakhstan. The shareholders of the Company are a pool of International and local investors who has many years of experience in the finance and other sectors. Registered charter capital is USD 40 Million and the initial paid up capital of KIC is USD 28 Million. The company operates in the field of Islamic leasing and will provide Ijara financing facilities to all sectors of the economy.
Bidaya Home Finance Company with headquarters in Riyadh, the capital of the Kingdom of Saudi Arabia. Bidaya has a paid up capital of 900mm Saudi Riyal. The main shareholders include the Saudi Private Investment Fund (PIF) and the Islamic Corporation for the Development of the Private Sector (ICD), private arm of the Islamic Development bank Group. Along with several prominent business names in the country
Zaman Bank was established in 1991 with headquarter located in Ekibastuz. At present, the capital of the bank stands at USD 60 million with total assets base of USD 120 million. The bank has been able to show years of good profitability track record, even during the global financial crisis. The Islamic Corporation for the Development of the Private Sector (ICD) will enter Islamic banking sector of the Republic of Kazakhstan with an expected investment of up to 35% of the subscribed and paid up capital of the bank. Accordingly, it will become second Islamic bank in the country.
Currently the ICD will only invest up to 5% of the capital.
Byblos bank Africa established 2003. Operating under Islamic Sharia’a. Byblos bank Africa’s main lines of business are commercial banking and correspondent banking. Following an injection of new capital in 2008, Byblos Bank SAL remains the largest shareholder in Byblos bank Africa (56.9%) followed by the OPEC Fund for International Development (17.5%) and the Islamic Corporation for the Development of the Private Sector