According to Kapital.kz, a new financial institution, Tansar Islamic Bank, has been registered at the Astana International Financial Centre (AIFC). Former deputy chairman of the National Bank of Kazakhstan Yeszhan Birtanov has joined the bank’s board of directors.
Tansar Group JSC registered the Islamic bank on October 16, 2026. The new entity’s authorized capital is $12 million. Rustem Baimakhanov has been appointed CEO of the asset.
Alongside Birtanov, who currently chairs the board of investment firm Tansar Capital, the bank’s board includes other top managers from the organization: management board chairman Yerzhan Agibayev and his deputy Aidos Musatayev.
According to announced plans, Tansar Islamic Bank will focus on traditional Islamic banking. Services will include Sharia-compliant financing, client fund management, and basic financial services like payments, transfers, and currency exchange. A separate business line will involve managing Restricted Profit Sharing Investment Accounts under mandates agreed with the AFSA regulator.
The new player launches amid a revival in Kazakhstan’s Islamic finance sector. Until now, only two fully-fledged Islamic banks operated in the country: Zaman Bank and ADCB Islamic Bank. Finteqstan previously reported that the Islamic banking niche in Central Asia is becoming a new competitive battleground.
In March 2026, legislative amendments took effect allowing traditional Kazakh banks to open “Islamic windows.” Tansar Islamic Bank enters the market as an independent, specialized player, unlike dedicated units within universal credit organizations.