Bakai Bank's Islamic Financial Center raffled off a certificate for a small Hajj

08 May 2024

In the holy month of Ramadan, Bakai Bank launched a new and unique Islamic Finance feature on the BakAi app, which provides an opportunity to benefit from Shariah compliant banking services. To mark the occasion, the Islamic Finance Center operating under Bakai Bank raffled off a Small Hajj certificate for two persons.  The Umrah raffle was held on social media on the page of Bakai Bank and the IFC.

The lucky winner of the two tickets for a trip to the small Hajj was entrepreneur Azyk uulu Arzymat. He extended his sincere gratitude and wished further success to the Bank. He will be going on the trip together with his sister.

The award was personally presented to the winner by Kadyr Malikov, Member of the Shariah Council at Bakai Bank Islamic Finance Center and Doctor of Political Science and Islamic Studies. Following the award, he shared his insights on Islamic finance on the BakAi app:

- Islam emphasizes making profits solely through permissible means, which is at the heart of Islamic finance. Bakai Bank has developed an app based on the principles of Islamic finance. Each user can easily select the desired product, track transactions and be assured that they are Shariah compliant. Our Board oversees all products and transactions, ensuring their compliance with Islamic norms," emphasized Kadyr Malikov.

Let us remind you that the Islamic Financial Center at Bakai Bank is the first Islamic window in Kyrgyzstan and the CIS, operating since 2018. Anyone who wishes is welcome to come to receive financial services according to the principles of Shariah, for example, to open a Mudaraba deposit or receive Murabaha financing.

The IFC operates in accordance with the Law of the Kyrgyz Republic "On the National Bank of the Kyrgyz Republic, Banks and Banking", regulations of the NBKR and Shariah standards of the Accounting and Auditing Organization of Islamic Financial Institutions (AAOIFI).