Al-Farabi Kazakh National University was awarded the prestigious international award «Global Islamic Finance Awards 2020» (GIFA) in recognition of its achievements and contribution to the development of education in Islamic finance. The leading Kazakhstani University became the best in the category of «The Best Emerging Islamic Finance Education Provider». The award ceremony was held in Islamabad (Pakistan).

The GIFA is one of the most prestigious awards in the world in the field of Islamic finance, a mark of excellence, which is awarded to governments, institutions and individuals who have achieved outstanding achievements in this field. Among them are heads of the states, famous political leaders, and scientists.

The receiving of the prestigious GIFA-2020 award is the recognition by the international community of the initiatives taken by Al-Farabi Kazakh National University to develop and disseminate Islamic finance.

Kazakhstan was one of the first countries in the post-Soviet space to begin the development of Islamic financing with the establishment of Islamic banks and legislative support of their activities. At the initiative of Yelbasy N. Nazarbayev, the International Financial Center of Astana (IFAC) was established and successfully operates, in the future it is expected that it would become a Hub for Islamic Finance in the region of EAEC and Central Asia.

KazNU in cooperation with leading foreign Universities and the AIFC opened a unique scientific and educational center of Islamic finance, which is equipped with the latest technology and modern software. It became a base for training highly qualified specialists in Islamic banking and finance. It provides training in the skills of exchange trading, the basics of fundamental and technical analysis, and financial engineering. Islamic banking and finance sector is an attractive sector that is increasingly gaining popularity at the international level, which requires appropriate staffing. For the first time in the post-Soviet space, KazNU started the training of Master and PhD students on the educational trajectory «Islamic Finance».

Kazakhstani University actively implements best practices and educational programs that meet high international standards, the best international practices of Islamic financial instruments, based on a moral and ethical approach to business and a strong social focus. International seminars, training and studies, specialized courses for international certification on Islamic finance are being held in cooperation with foreign partners.

The active scientific and educational activities of KazNU in the field of Islamic finance and banking makes a significant contribution to the development of the new economy of independent Kazakhstan.