Nur-Sultan, Kazakhstan – International Islamic Food Processing Association (“IFPA”) and Kazakhstan Project Preparation Fund LLP (“KPPF”), a subsidiary of Baiterek Holding, signed a Memorandum of Cooperation (“MoC”). The signing ceremony was jointly witnessed by H.E. Sheikh Bilal Khan, Director General and CEO of IFPA and Mr. Murat Zhekey, Chairman of the Management Board and CEO of KPPF.
The major thrust of the MoC is to promote mutually beneficial cooperation between IFPA and KPPF in the areas of project initiation and preparation, assisting project owners in search of Islamic investors and raising Islamic funds. The agreement especially signifies the opportunity to support potential Islamic investors in project preparation, including cost determination, and consulting on corporate and Islamic finance issues, assisting the exchange of expertise and know-how including Islamic legal requirements.
The two parties expressed their mutual satisfaction towards this new impetus and synergy given to a collaboration that will focus primarily on resolving organizational, technical and administrative issues related to project initiation and preparation in agri-food sectors in the Republic of Kazakhstan. The backbone of the MoC is based on the engagement to increase investments related to the use of Islamic finance, investment funds, Shariah structuring, Sukuk listing and other Islamic investment instruments from the markets of the 57 Organization of Islamic Cooperation (“OIC”).
The management of IFPA expressed “their sincere gratitude to KPPF for their excellent spirit of trust and genuine dedication to achieving the high-quality and sustainable development outcomes in agri-food projects.” In their turn the management of KPPF noted that “KPPF sees in this MoC a first concrete step among many more to come for the benefit of all agri-food sector ecosystem of Kazakhstan.”
IFPA – Business & Media Enquiries:
KPPF – Business & Media Enquiries:
Ms. Aldanysh Kossubayeva, Analyst, email@example.com