EDB Backs Kazpost's Islamic Financing Platform With $100,000 Grant

(MENAFN- Trend News Agency) BAKU, Azerbaijan, October 5. The Eurasian Development Bank (EDB) and Kazpost signed an agreement on developing a pilot digital platform for Islamic financing during the AI & Digital Bridge 2026 forum in Astana, with EDB providing a $100,000 grant for the project.

This was announced by the EDB's press service.

The agreement was signed by EDB Deputy Chairman of the Management Board Ruslan Dalenov and Kazpost Chairman of the Management Board Bekezhan Zhakeev.

The grant will be provided from EDB's Technical Assistance Fund to develop a digital platform that will allow retail customers to purchase goods online in installments through the Murabaha Islamic financial product, using Kazpost's international delivery service Keruen.

The project envisages the development of the platform and the methodology required to provide the Islamic financial product, bringing the purchase of goods, financing and delivery together in a single digital solution.

The launch of the platform is expected to expand Kazpost's financial services and create an additional digital channel for access to Islamic financing for individuals and businesses.

“EDB consistently supports the development of modern financial solutions that expand access to financing and create new opportunities for businesses and people in the region. Together with Kazpost, we are launching a pilot project that combines digital technologies, Islamic financial instruments and the extensive infrastructure of the national operator,” Dalenov said.

Zhakeev said the project would help develop Kazpost's digital financial services and make access to Islamic financing more convenient for individuals and businesses.

The project is being implemented in cooperation with the Islamic Development Bank Group under a memorandum signed between EDB and the Islamic Development Bank Institute in June 2024.

AI & Digital Bridge 2026 took place on October 1–3 at the EXPO International Exhibition Center in Astana. Organized by the Ministry of Artificial Intelligence and Digital Development of Kazakhstan, Astana Hub, and the Astana city administration, the forum has attracted more than 1,500 speakers from over 100 countries, 500+ investors, and 600+ startups.

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