• KZT/USD = 0.00223
  • TJS/USD = 0.10860
  • UZS/USD = 0.00008
  • TMT/USD = 0.29850
  • KZT/USD = 0.00223
  • TJS/USD = 0.10860
  • UZS/USD = 0.00008
  • TMT/USD = 0.29850
  • KZT/USD = 0.00223
  • TJS/USD = 0.10860
  • UZS/USD = 0.00008
  • TMT/USD = 0.29850
  • KZT/USD = 0.00223
  • TJS/USD = 0.10860
  • UZS/USD = 0.00008
  • TMT/USD = 0.29850
  • KZT/USD = 0.00223
  • TJS/USD = 0.10860
  • UZS/USD = 0.00008
  • TMT/USD = 0.29850
  • KZT/USD = 0.00223
  • TJS/USD = 0.10860
  • UZS/USD = 0.00008
  • TMT/USD = 0.29850
  • KZT/USD = 0.00223
  • TJS/USD = 0.10860
  • UZS/USD = 0.00008
  • TMT/USD = 0.29850
  • KZT/USD = 0.00223
  • TJS/USD = 0.10860
  • UZS/USD = 0.00008
  • TMT/USD = 0.29850
07 November 2026

Our People > Tamila Olzhbaekova

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Tamila Olzhbaekova

Journalist

Tamila Olzhabekova is a journalist, award-winning illustrator, and a volunteer, curator and event organizer in the DOSTAR diaspora of Kazakhstan organization.
Prior to working for The Times of Central Asia, she has written for Peter Tv, First Line, Five Corners, Sport.Kz, and numerous other publications. A campaigner for interethnic harmony and the protection of stray animals, she studied at St. Petersburg State University.

Articles

Turkmenistan’s Neutrality: Diplomatic Space, Economic Limits

Permanent neutrality has shaped Turkmenistan’s foreign policy for more than three decades. It has given Ashgabat a distinct diplomatic identity and helped it maintain relations with competing regional powers. Its economic benefits, however, have been more limited. On December 12, 1995, the UN General Assembly adopted a resolution without a vote that recognized and supported Turkmenistan’s declared permanent neutrality. The Assembly adopted a further resolution in 2015 and reaffirmed its support for a third time on March 21, 2025. The UN reinforced a policy declared by Ashgabat. It did not create the status or guarantee Turkmenistan influence beyond its borders. The strongest evidence of neutrality’s diplomatic value came during the civil war in Tajikistan. Turkmenistan hosted UN-sponsored inter-Tajik peace talks in Ashgabat during the 1990s. The negotiations contributed to the process that produced the 1997 peace agreement. Hosting those talks did not make Turkmenistan the principal mediator. The UN and regional governments played larger roles. Ashgabat nevertheless provided a venue considered acceptable by the opposing sides. Turkmenistan has followed a similar policy toward Afghanistan. It has maintained contacts with successive authorities in Kabul while supplying electricity and pursuing transport and energy projects across the border. Since the Taliban returned to power in 2021, Ashgabat has continued its economic engagement without making its relationship dependent on formal political alignment. Neutrality helps Turkmenistan keep diplomatic channels open, but it is not the only explanation for this policy. The two countries share a long border, and Afghanistan is central to several planned export and transit routes. Energy provides a clearer measure of what neutrality can and cannot deliver. Turkmenistan has sought buyers in Russia, China, Iran, Türkiye, South Asia, and Europe. Its ability to reach those markets has depended mainly on pipelines, financing, and relations with transit countries. China became Turkmenistan’s main gas customer after the Central Asia-China pipeline opened in 2009. By 2026, Turkmenistan was exporting around 30 billion cubic meters of gas to China each year. A new agreement signed in April 2026 to expand the Galkynysh gas field could support another 10 billion cubic meters of annual production, further deepening the energy relationship with Beijing. Turkmenistan’s experience with other buyers has been less stable. Russia’s Gazprom stopped purchasing Turkmen gas in 2016 before resuming much smaller imports in 2019. Supplies to Iran ended in 2017 during a dispute over unpaid bills. Ashgabat secured a modest new outlet in March 2025, when Turkmen gas began flowing to Türkiye under a swap arrangement through Iran. The one-year agreement covered about 1.3 billion cubic meters, with officials discussing possible annual supplies of up to 2 billion cubic meters. The Türkiye deal showed that Ashgabat could find new customers, but the volume remained small beside exports to China. The route also depended on Iranian infrastructure. Turkmenistan’s larger diversification projects remain incomplete. Construction has advanced on the Afghan section of the Turkmenistan-Afghanistan-Pakistan-India pipeline, known as TAPI. Turkmen officials expect the first Afghan section to reach Herat by the end of 2026, but plans for extending...

3 months ago

Central Asia Tourism Growth Outpaces Other Regions

Central Asia emerged as one of the world's fastest-growing tourism regions in 2025, with travel and tourism contributing $20.1 billion to the regional economy. According to an analysis based on World Travel & Tourism Council (WTTC) data, the sector's economic contribution grew by 17.7% during the year, the highest rate among the regions covered. By comparison, tourism GDP grew by 8.7% in Northeast Asia and 7.6% in Southeast Asia. The number of jobs supported by tourism grew by 9.5%, while spending by international visitors increased by 26.4%. Despite this rapid expansion, tourism remains a relatively small part of Central Asia's economy. It accounted for 4.3% of regional GDP in 2025, slightly below its pre-pandemic share of 4.5% in 2019. The slight fall in its share reflects the wider growth of the region's economies. The increase is being driven primarily by travel within Central Asia and from neighboring Russia. Kazakhstan, Uzbekistan, Russia, and Kyrgyzstan together accounted for 90% of the region's recorded inbound arrivals in 2025. Uzbekistan's official statistics, for example, show that visits to relatives accounted for most foreign visits recorded for tourism purposes during the first eight months of 2025. Comparisons between countries require caution because governments use different statistical methods, including whether they count border crossings or unique visitors. Uzbekistan remains the regional leader in terms of tourism's importance to the national economy. The sector accounted for 6% of GDP in 2025 and contributed $8.3 billion. Even there, however, tourism is considerably less economically important than in established destinations such as Spain, where WTTC forecast that it would account for almost 16% of GDP in 2025. Kazakhstan has the region's largest tourism economy in absolute terms, contributing $9.3 billion in 2025. Tourism nevertheless represented only 3.2% of the country's GDP, reflecting the larger role of industry and trade. The upward trend has continued into 2026. According to the Bureau of National Statistics, Kazakhstan welcomed three million foreign travelers in the first quarter. Uzbekistan was the largest source, accounting for 1.1 million travelers. Kyrgyzstan and Russia were the next largest sources. Revenue generated by accommodation providers rose by 13.9% compared with the same period a year earlier. WTTC forecasts almost 13% growth in the sector's economic contribution in Kazakhstan in 2026. Tourism in Central Asia is expanding and generating substantially more revenue. However, visitors from neighboring countries and Russia still dominate the regional market, leaving longer-haul tourism to grow from a comparatively low base.

3 months ago

Kyrgyzstan Links Record Heatwave to Accelerating Glacier Retreat

Kyrgyzstan's state weather agency, Kyrgyzhydromet, has warned that last month's record-breaking heatwave is the latest sign of climate change accelerating the retreat of the country's glaciers, threatening water supplies across Central Asia. The agency said the immediate heatwave was caused by regional atmospheric conditions, but its director, Daurbek Sakeyev, argued that the growing frequency of such extreme weather reflected a longer-term warming trend already affecting mountain ecosystems and water resources. Abnormally hot weather settled over Kyrgyzstan on July 14. Meteorologists attributed it to a combination of a summer thermal depression over Central Asia and a persistent area of high pressure in the upper atmosphere. The country saw consecutive days with temperatures exceeding 40°C. In Bishkek, the temperature reached 43.5°C on July 19, the highest July reading in the capital since observations began in 1936. Bishkek recorded no measurable rainfall during the month, while average daily temperatures on July 18 and 19 stood nearly 10°C above the seasonal norm. Record electricity demand prompted temporary supply restrictions in Bishkek and the surrounding Chuy Region, although a separate widespread outage on July 17 was attributed to the emergency disconnection of two 220-kilovolt transmission lines. Speaking after the heatwave had subsided, Sakeyev said spring was arriving earlier, summers were becoming hotter, and winters were bringing less precipitation, changes that were affecting the condition of the country’s glaciers. Earlier spring warming lengthens the annual melting season, while prolonged periods of extreme summer heat accelerate ice loss. Reduced winter snowfall also limits the accumulation of new ice and exposes darker glacier surfaces earlier, causing them to absorb more solar energy. According to Kyrgyzhydromet, Kyrgyzstan’s glaciers have lost around 16% of their total area over the past 70 years. Recent monitoring places the decline in the Talas Valley at 22%. Smaller, lower-altitude glaciers are particularly vulnerable, and scientists expect their number and area to decline substantially by 2050. Separately, Kyrgyzhydromet reported on July 30 that glacier area in the Issyk-Kul basin had declined by 33.7% over 70 to 90 years and by 23.1% over the most recent seven to ten years. The consequences extend beyond Kyrgyzstan. Tien Shan glaciers feed the Syr Darya, Chu, Talas, and Ili river systems, supplying water for millions of people, irrigation, and hydropower. Continued glacier retreat could alter seasonal flows and increase the risk of glacial lake outburst floods threatening mountain communities. Glacier retreat is one of Central Asia’s most significant long-term challenges. The region’s water security will depend on precipitation, seasonal snow cover, glacier loss, and governments’ ability to store and manage increasingly variable river flows.

3 months ago

Turkmenistan Reports 6.3% GDP Growth for the First Half of 2026

Turkmenistan's economy grew by 6.3% in the first six months of 2026 compared with the same period last year, according to Turkmen state media. Among Central Asian countries that had published first-half figures, Turkmenistan's reported growth rate was higher than Kazakhstan's but lower than those of Kyrgyzstan, Tajikistan, and Uzbekistan. By the end of the first half of 2026, Kazakhstan's economy had grown by 4.1%. Kyrgyzstan's economy expanded by 11.9%, reaching 960 billion som ($11 billion), with construction posting the fastest growth at 69.6%. Tajikistan reported growth of 8.2%, while Uzbekistan reported GDP growth of 8.5%. Turkmenistan's official figures should be treated with caution. The International Monetary Fund projects growth of about 2.4% for 2026 and says it uses its own GDP estimates because the official narrative is difficult to reconcile with other available data. Official data shows growth of 10.4% in transport and communications, 8.5% in trade, 8.4% in services, 6.7% in construction, 2.7% in industry, and 2% in agriculture. Retail trade turnover increased by 10.1%, while foreign trade turnover rose by 7.5%. The fuel and energy sector continues to play a central role in Turkmenistan's economy. The country possesses some of the world's largest natural gas reserves, and hydrocarbon production and exports remain its principal source of foreign currency earnings and a defining feature of the national economy. Construction is another major pillar, driven largely by state spending. Capital investment totaled 18.6 billion manats ($5.3 billion) in the first half of 2026, up 4.3% year on year and equivalent to 16.5% of GDP. Of this, 45.1% went to production facilities and 54.9% to social and cultural buildings. The government is also seeking to produce more construction materials and other goods domestically, reducing the need for imports. For the remainder of the year, the government says it will focus on completing ongoing construction projects, increasing capacity utilization at industrial plants, maintaining the stability of the manat, developing the tax system, preparing next year's state budget, and improving the use of budget funds. Earlier, The Times of Central Asia reported that Turkmenistan sees the proposed Trans-Caspian Gas Pipeline and the Southern Gas Corridor as a key route for diversifying its natural gas exports to Europe, as Ashgabat seeks to reduce its dependence on a limited number of export markets.

3 months ago

How Kyrgyzstan Used the SCO Film Festival to Raise Its International Profile

Kyrgyzstan hosted the first International Film Festival of the Shanghai Cooperation Organization (SCO) member states from July 16 to 19, marking the country’s largest international cinema event to date. Held at the Rukh Ordo cultural center in Cholpon-Ata to coincide with the SCO’s 25th anniversary, the festival brought together delegations from Kyrgyzstan, China, Russia, Kazakhstan, Uzbekistan, Tajikistan, Iran, and Belarus. Each country presented one feature film, while an international jury chaired by Kyrgyz writer and director Ernest Abdyzhaparov selected the winners. The Grand Prix went to the Kyrgyz film Kara Kyzyl Sary (“Black, Red, Yellow”), giving the host nation a symbolic victory at the festival’s inaugural edition. Other awards went to Russia’s Angels of Ladoga for cinematography, Kazakhstan’s Autumn Breeze for screenplay, and Chinese director Lan Hongchun for Dear You. Acting honors were shared by performers from the Tajik-Iranian co-production Fish on the Hook and the Iranian film The Player. The festival also functioned as a forum for the region’s film industry. Discussions covered co-production and financing, along with the possibility of creating a common SCO film market. A proposal to establish a dedicated co-production fund drew particular attention. Such a fund could support joint productions rather than limiting cooperation to cultural exchanges. Participants also discussed training for young filmmakers and closer ties between film schools. Joint workshops were another area of interest. For Kyrgyz cinema, access to larger production markets could open new sources of financing and support the transfer of technical expertise. It could also help domestic films reach international audiences. Iranian jury member Ruhollah Hosseini expressed hope for peace in his country before presenting an award, giving the ceremony a more personal note. Hosting the festival was also significant for Kyrgyzstan. As the country chairs the SCO, Issyk-Kul has become one of the organization’s main venues. The festival added a cultural dimension to that role and brought officials and filmmakers from across the SCO to Kyrgyzstan. The event could also bring longer-term benefits to the Issyk-Kul Region. Visiting filmmakers were able to see the area’s mountain scenery and historic locations. They also viewed local facilities that could support future productions, potentially increasing interest in Issyk-Kul as a filming destination. Whether the festival becomes more than a one-off event will depend on the implementation of the initiatives announced in Cholpon-Ata. If the proposed co-production fund is established and the professional contacts formed during the festival develop into joint projects, the first SCO Film Festival could mark the beginning of a more integrated regional film industry rather than simply another entry on the cultural calendar. Earlier this year, The Times of Central Asia reported that the Bishkek International Film Festival had grown into one of Central Asia’s leading film industry platforms, attracting participants from more than 30 countries.

3 months ago

Kyrgyzstan Records 348 Mudflows in Six Months, Highest Total in Decades

Kyrgyzstan recorded 348 mudflows during the first half of 2026, the highest number in 30 to 40 years, according to the Ministry of Emergency Situations and Kyrgyzhydromet. These violent torrents of water, mud, and boulders killed eight people and injured three. Roads, villages, and critical infrastructure are concentrated in narrow mountain valleys. Each new debris flow can therefore threaten lives and isolate entire communities. A Rapidly Escalating Season The damage extends beyond the human toll. Authorities evacuated 236 people from hazardous areas, while mudflows damaged 668 hectares of farmland. Preliminary estimates place economic losses at 399 million soms (approximately $4,560,000). The scale of the crisis became apparent well before mid-summer. By late June, Kyrgyzstan had already recorded more than 240 mudflows. The first-half total of 348 was almost five times the roughly 70 recorded during the same period of 2025. The deadliest incident occurred on the Osh-Alay highway, where a powerful mudflow swept a vehicle from the road, killing six people. The Ministry of Emergency Situations identifies Batken, Jalal-Abad, Osh, and Talas regions as the country’s most vulnerable areas, where mudflows repeatedly destroy roads, bridges, and residential buildings. Why the Risk Is Increasing Officials link the surge to several overlapping factors, including intense local downpours and earlier snow and glacier melt. Settlement expansion into hazardous valleys and a shortage of protective structures have increased exposure. Pasture degradation and forest loss add to the danger. Rising temperatures are also transforming the Tian Shan as glaciers retreat and new high-altitude lakes emerge. Kyrgyzhydromet estimates that the area of Kyrgyzstan’s glaciers has declined by about 16% in recent decades. As glaciers shrink, newly formed alpine lakes become more vulnerable to overflowing or bursting during intense rainfall or rapid snow and ice melt. Such outbursts can generate destructive debris flows. The threat extends beyond mudflows. Officials warn that warming will also increase the risks posed by glacial-lake outbursts, landslides, and rockfalls. Strengthening Defenses Despite the record number of mudflows, the death toll remains significantly lower than in 2024, when such disasters claimed 25 lives. The Ministry of Emergency Situations attributes the improvement to earlier warnings, more effective evacuations, and expanded preventive measures in high-risk areas. Kyrgyzstan is also expanding its use of forecasting technologies. KG Labs, working with international partners, is developing an AI model to forecast glacial lake outburst floods in the Tian Shan. The work draws on a digital catalogue of Kyrgyzstan’s glaciers and is exploring affordable sensors for remote mountain areas with intermittent internet access. The Ministry of Emergency Situations already uses a separate AI-powered system to monitor high-altitude lakes and issue warnings. The Season Is Far From Over The figure of 348 covers only the first six months. In Kyrgyzstan, the period of highest risk typically lasts until autumn, meaning that mountain communities and transport corridors remain vulnerable for several more months. The events of 2026 illustrate how rapidly natural hazards are evolving. Retreating glaciers, the formation of new alpine lakes, and increasingly intense rainfall are changing the country’s risk...

3 months ago

Registered Businesses in Kazakhstan Rise More Than 20% Despite Tax Reform

The number of registered businesses in Kazakhstan increased by more than 20% during the first half of 2026, according to government data, easing earlier concerns that the country’s new Tax Code would trigger widespread business closures. The growth came despite higher value-added tax (VAT) rates and tighter registration requirements introduced this year. During a government meeting, Deputy Prime Minister and Minister of National Economy Serik Zhumangarin said the number of registered business entities had reached 2.939 million by the end of June, up by nearly 499,000, or 20.4%, from the beginning of the year. The strongest increase came from individual entrepreneurs and self-employed workers. Their combined number rose from 1.86 million to 2.352 million over six months, while the number of self-employed workers reached 688,597. The expansion also coincided with improved fiscal performance. Government revenues increased by almost 16% during the reporting period, while VAT receipts were nearly 1.5 times as high as a year earlier, according to official figures. Growth was also recorded among corporate businesses. The number of registered legal entities increased from 579,756 to 587,117 during the first half of the year, while the number of VAT payers rose from 135,845 to 158,194. The figures indicate that businesses have largely adapted to the new tax environment despite concerns voiced before the reforms took effect. Earlier this year, analysts warned that higher taxes and stricter registration rules could force many small businesses to close, but the first six months of data have not supported those expectations. The structure of Kazakhstan’s small and medium-sized business sector also remained largely unchanged. More than 60% of all SMEs continue to operate in trade and agriculture, as well as other services. These remain the country’s largest entrepreneurial sectors. Growth varied across industries, reflecting differences in business activity. Among small legal entities, the mining sector recorded the fastest increase at 2.9%. Construction and agriculture both grew by 2.5%, while information and communications expanded by 2.4%. The figures indicate continued investment in traditional industries and digital services. Among medium-sized enterprises, real estate posted the strongest growth at 5.8%, nearly double the pace of the next-fastest sector. Finance and insurance grew by 3.2%, while other service industries expanded by 3.1%, reflecting continued demand in domestically oriented sectors. The figures also point to the growing role of small and medium-sized businesses in Kazakhstan’s economy. SMEs accounted for 40.9% of gross domestic product in 2025, up from 33.5% in 2021, according to official data. The sector has become an increasingly important source of investment and regional development, while contributing to economic diversification. Employment data reflect the same trend. During the first quarter of 2026, Kazakhstan had 9.4 million employed people, including 4.5 million working in small and medium-sized businesses. This means that nearly one in two employed people now works in the SME sector. The first-half data indicate that Kazakhstan’s business sector continued to expand despite a more demanding tax environment. While it remains too early to assess the long-term impact of the tax reform, the increase...

4 months ago

Japarov Says Tourist Flow to Kyrgyzstan Has Reached 13 Million as Central Asia’s Travel Boom Accelerates

President Sadyr Japarov says the number of tourists visiting Kyrgyzstan has reached 13 million, although his July 21 statement did not specify the reporting period or methodology behind the figure. For a country of roughly seven million people, the reported total is nearly twice the size of its population. Kyrgyzstan’s official tourism statistics count border crossings rather than unique visitors, meaning the same traveler may be counted more than once. Japarov said the total had risen from 2-3 million annual visitors before 2020-2021. However, official tourism datasets have used different measures over time, so the comparison should be treated cautiously. Kyrgyzstan has steadily strengthened its position in Central Asia’s tourism market by promoting mountain destinations, ecotourism, trekking routes, and cultural heritage. Official expectations for visitor numbers have risen almost every year alongside continued investment in the sector. According to State Agency for Tourism Development head Eduard Kubatov, about 10 million tourists visited the country in 2025, contributing more than $1 billion to the economy. Earlier this summer, the agency forecast around 12 million tourist arrivals for 2026. Kubatov said tourism accounts for more than 5% of Kyrgyzstan’s GDP and that the government aims to increase its contribution to 7.5%. The National Statistical Committee separately estimated tourism’s gross value added at 3.8% of GDP in 2024. Another factor expected to support the sector is the removal of all air carriers certified in Kyrgyzstan from the European Union’s Air Safety List, opening the possibility of direct air services between the country and EU member states. Kyrgyzstan’s latest figures come amid a broader tourism boom across Central Asia, although comparisons between countries require caution because governments use different statistical methodologies. Some count all foreign arrivals, while others distinguish between overnight tourists, same-day visitors, and other categories of travelers. Kazakhstan reported 15.7 million foreign arrivals in 2025, excluding people entering for employment or permanent residence. Official data indicates that 11.1 million qualified as tourists, while accommodation statistics show that about 1.4 million foreign visitors used registered accommodation, suggesting many stayed with relatives, friends, or in private rentals. Uzbekistan also reported strong growth. During the first half of 2026, the country recorded 6.56 million tourist arrivals, nearly one-quarter more than during the same period a year earlier. For comparison, Uzbekistan recorded about 8 million tourist trips by foreign citizens throughout 2024. One notable feature of regional tourism is the intensity of cross-border travel within Central Asia. Kyrgyz citizens formed the largest group of foreign visitors to Uzbekistan during the first half of 2026, illustrating how neighboring countries increasingly generate tourism demand for one another. The latest figures reinforce the growing importance of tourism for Kyrgyzstan’s economy. Whether the reported arrival numbers translate into higher export revenues, longer visitor stays, and greater private investment will depend less on the volume of border crossings than on visitor spending, infrastructure development, and the industry’s ability to create sustainable economic value. For now, the available data suggest that tourism is becoming increasingly important in Kyrgyzstan and across Central Asia,...

4 months ago

Uzbekistan Establishes Islamic Finance Council as New Banking Law Takes Effect

The Central Bank of Uzbekistan has established an Islamic Finance Council to coordinate the work of banks, microfinance organizations, the Deposit Guarantee Agency and other institutions operating under Islamic financial principles. The council was created weeks after Uzbekistan’s new Islamic banking law took effect on June 29. It will prepare national standards, issue regulatory and supervisory recommendations, advise financial institutions and represent the Central Bank in its work with international standard-setters. Building an Islamic Finance Framework Islamic finance prohibits interest and generally requires financing to be linked to assets, trade, leasing or risk-sharing. Common structures include murabaha, in which a bank buys and resells an asset at an agreed markup, and ijara, which operates broadly like leasing. Sharia Specialists Form Council Majority The council has five members: four specialists from the Fatwa Center under the Muslim Board of Uzbekistan and one financial-sector expert. Saidjamol Masayitov, a chief specialist at the Fatwa Center, will chair the council. Muhammadyubkhon Khomidov, also a chief specialist at the center, will serve as deputy chairman. The other members are Fatwa Center specialists Hikmatilla Toshtemirov and Abdullatif Tursunov, along with Akhrorjon Sadullayev, managing partner of Orient Audit Group. Sadullayev has more than 20 years of experience in banking, finance and auditing. The council is intended to combine Sharia expertise with financial regulation. It will report annually to the Central Bank’s board. From Legislation to Implementation Uzbekistan has been developing an Islamic finance framework for several years. Legislation adopted in 2022 allowed microfinance organizations to provide services based on Islamic principles, while detailed regulations introduced in 2024 covered instruments including mudaraba, murabaha, musharaka, ijara and salam. The Central Bank is also preparing a national Islamic finance roadmap for 2026-2030 with assistance from the Islamic Financial Services Board. The work covers banking, capital markets, insurance, professional training and the wider legislative framework. Law No. O’RQ-1126, signed on March 27, established a dual banking model. Stand-alone Islamic banks can operate alongside Islamic “windows” within conventional commercial banks. The law also created a special licensing system and defined permitted Islamic financial operations. Uzbekistan had previously planned to introduce its first Islamic finance services through a commercial bank in 2027, with at least three banks expected to offer them by 2030. Licensing Rules Approved The Central Bank has now amended its licensing regulations for Islamic banks and Islamic windows. The changes were registered by the Ministry of Justice on July 17 and took effect upon official publication. Applicants must submit Sharia-compliance policies, information about their institution-level Islamic finance council, evidence of dedicated internal oversight and audit systems, and a three-year business plan. Existing conventional banks will require a separate license to open an Islamic window. Council candidates must receive Central Bank approval and meet education and professional-experience requirements. At least one member must hold a certificate from the Accounting and Auditing Organization for Islamic Financial Institutions, or AAOIFI. Certification will become mandatory for all council members from July 1, 2027. Adopting International Standards The Central Bank joined AAOIFI as a regulatory...

4 months ago

Kazakhstan Wildfires: Heatwave Tests Reforms Three Years After Semey Ormany

Between July 5 and 11, Kazakhstan’s state forest fund recorded 43 wildfires as an intense heatwave pushed much of the country into conditions of high and extreme fire danger. The Ministry of Ecology said all of the fires were contained before they could develop into large-scale disasters. For Kazakhstan, however, the significance of those figures extends beyond a single week. Three years after the deadly Semey Ormany wildfire exposed serious shortcomings in the country’s emergency response system, each fire season has become a test of whether the reforms introduced since 2023 are keeping pace with increasingly severe weather conditions. How the Fires Were Fought Of the 43 recorded wildfires, 34 occurred within the state forest fund, while nine affected forests managed by regional authorities. Officials said the fires were detected and contained through a combination of aerial surveillance, early warning systems, and coordinated operations involving forestry services and emergency responders. Aircraft conducted reconnaissance flights, transported firefighting crews to remote locations, and carried out water drops where ground access was limited. Firefighters and forestry personnel established firebreaks, extinguished smoldering vegetation, and continued patrols after the flames had been brought under control to prevent reignition. The most difficult situation developed in Akmola Region, where the number of forest fires since the beginning of the fire-hazard season has risen 68.4% compared with the same period last year. Regional authorities responded by strengthening forest patrols and increasing monitoring of high-risk areas, while urging residents to avoid lighting fires or burning dry vegetation during the continuing hot and dry weather. Heat Keeps Raising the Stakes Even as firefighters succeeded in containing the week’s blazes, weather conditions continued to increase the likelihood of new outbreaks. According to Kazhydromet, prolonged heat and limited rainfall have left much of Kazakhstan under high or extreme wildfire danger. Forecasters expect only limited relief. A cold front may bring localized rain and thunderstorms to northern Kazakhstan, but meteorologists say the precipitation is unlikely to significantly reduce wildfire risks. Southern regions are forecast to remain under temperatures of 104-113°F (40-45°C), allowing vegetation to dry rapidly and creating conditions in which even relatively small fires can spread quickly. The persistence of these weather patterns highlights a broader challenge. Kazakhstan’s emergency services are increasingly responding not to isolated wildfire events, but to prolonged periods during which multiple regions face elevated fire danger simultaneously. What Has Changed in Three Years Kazakhstan’s approach to wildfire management changed fundamentally after the June 2023 Semey Ormany disaster, when a fast-moving forest fire in the Abai Region killed 14 forestry workers, destroyed more than 60,000 hectares of forest, and caused an estimated $354 million in damage. A subsequent investigation identified serious shortcomings in the country's preparedness and a lack of regard to the protection of frontline personnel, prompting one of the most significant reforms of the country’s forest protection system since independence. In 2024, Kazakhstan established the Forest Fund Protection and Defense Service to train a generation of specialists and strengthen coordination during major wildfires. The upgraded response system...

4 months ago