Head of the AIFC Islamic Finance Department
Mr. Alibek Nurbekov is currently the Head of the Islamic Finance Department at the Astana International Financial Centre (AIFC) Authority. Alibek is the Member of the Technical Committee of the Islamic Financial Services Board since May 2018 and the Lecturer in Islamic capital markets and instruments at the Kazakh Law and Humanities University – KazGUU since February 2018. Alibek also acts as the Secretary of the AIFC Advisory Council on Islamic Finance and serves as the Focal point of the IsDB Governor Office for Kazakhstan. During his current tenure at the AIFC, the Islamic finance rules, the Islamic banking business prudential rules and the takaful/retakaful prudential rules were drafted and enacted under the technical assistance of the Asian Development Bank. He is currently supervising the Islamic Finance Master Plan development in Kazakhstan under the technical assistance of the IsDB.
Prior to his current position, he served as the Deputy Head of the Regional Financial Centre of Almaty and the Islamic Finance Development Department at the National (Central) Bank of Kazakhstan (NBK). Prior to that, he held a position of the Deputy Head of the Financial Stability Department at the NBK. During his tenure at the NBK, the laws on Ijarah, takaful, sovereign Sukuk, commodity murabaha, conversion of conventional banks to Islamic banks and the constitutional law on the AIFC establishment were drafted and adopted. The NBK also became a full member of the IFSB, the AAOIFI and the IIFM during his tenure.
Before joining the NBK, he held a position of the Planning and Compliance Advisor at the North Caspian Operating Company (NCOC) which is developing one of the largest and most complex hydrocarbon discoveries in the world – Kashagan. In the past he also worked as the Project Manager at the National Investment and Export Promotion Agency “Kaznex Invest” (currently known as Kazakh Invest), as the Senior Consultant with the Center for Marketing and Analytical Research (CMAR) think tank under the Government of Kazakhstan. He also worked as the Trade Finance Manager for the largest at the time sugar manufacturer in Kazakhstan “Sugar Center” and as the Advisor to CEO for the construction company in Turkey “Ditaco International” as part of the AIESEC International Traineeship Exchange Programme.
Alibek also held various part-time positions during his university studies – Friona Industries in USA, Peace and Cooperation in Spain, Kazakhstan Stock Exchange (KASE) and the NBK. Alibek is the CIBAFI Certified Islamic Banker and the FAA Certified Training Professional. He is also the Founding Member of the Society of Islamic Finance Professionals of Kazakhstan. Mr. Nurbekov holds a bachelor’s degree in International Economics from the Kazakh Economics University named after T. Ryskulov (2002), a bachelor’s degree in Law from the Al-Farabi Kazakh National University (2009) and an Executive Master’s degree in Oil and Gas Leadership from the Graduate Institute of International and Development Studies in Switzerland (2013). He is fluent in Kazakh, Russian, English, Spanish, French and Turkish.
Mr. Alibek Nurbekov also has received the Global Islamic Finance Award (GIFA) in 2018 for Policy Development in Islamic Finance.