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Kazakh Development Bank Says It May Issue Islamic, Samurai Bonds

The Development Bank of Kazakhstan, a state-owned lender that promotes industry, is preparing to issue Islamic and Samurai bonds in 2012 to “diversify its loan portfolio and implement new financial instruments.”

The bank expects to offer $862 million in loans to finance Kazakhstan’s industrial projects this year, according to a statement posted on its website on Feb. 3.

The lender will carry on helping to finance projects which are a part of the state program of industrial development, including projects such as the upgrade of the Atyrau refinery, Chief Executive Officer Nurlan Kusainov said in the statement.

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