The Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market has issued Abu Dhabi Commercial Bank (Kazakhstan) JSC a universal licence for banking and other operations, as well as a licence to conduct Islamic banking operations.
Agency Chair Madina Abylkassymova presented the licences at a ceremony held on the sidelines of the Kazakhstan Financial Congress.
Abu Dhabi Commercial Bank (Kazakhstan) is the first bank in Kazakhstan authorised to conduct conventional and Islamic banking within one institution using the “Islamic window” model.
The new Law of the Republic of Kazakhstan “On Banks and Banking Activities in the Republic of Kazakhstan”, adopted on 16 January 2026, allows conventional and Islamic banking to be combined. A universal bank can offer both conventional products and financial instruments compliant with Islamic finance principles without establishing a separate Islamic bank.
The agency says the change will widen the choice of financial services for individuals and businesses and support the development of Islamic finance in the country. Abu Dhabi Commercial Bank’s entry into the Kazakhstan market is part of efforts to attract foreign banks and increase competition in the banking sector, following an instruction from the Head of State.
The licences complete the establishment of a new bank with foreign participation and authorise it to conduct banking activities in Kazakhstan. The agency says the expansion of a major international banking group’s presence will create conditions for greater competition, improved service quality and wider access to financial services for individuals and businesses.
