Abu Dhabi Commercial Bank Kazakhstan (ADCB) Chairman Farooq Al Marzooqi announced during a meeting with Kazakhstan’s Prime Minister Olzhas Bektenov that the bank intends to triple financing for Kazakhstani projects over the next 18 months. The current figure stands at 2.5 trillion tenge (approximately $5.5 billion).
The parties discussed expanding ADCB Group’s participation in key initiatives in Kazakhstan. The development of the real economy and modernization of digital infrastructure were identified as priorities. The prime minister emphasized that involving ADCB Group in working with investors from the UAE and other Middle Eastern countries would help diversify Kazakhstan’s sources of external financing.
Over the past 15 years, ADCB Kazakhstan has financed more than 100 business initiatives in the country, 90% of which were projects involving small and medium-sized businesses. Al Marzooqi highlighted the successful joint financing of energy facilities and railway infrastructure, as well as projects in the petrochemical, transport and logistics sectors.
UAE investment in Kazakhstan’s economy
The parties also discussed economic and institutional reforms in Kazakhstan that are enhancing the country’s investment attractiveness as part of a new investment cycle launched on the instructions of President Kassym-Jomart Tokayev.
Over the past 20 years, direct investment from the UAE in Kazakhstan has surpassed $7 billion. Of this amount, around $3 billion has flowed into the country’s economy over the past 30 months.
Abu Dhabi Commercial Bank is one of the UAE’s largest banks and holds investment-grade international credit ratings. At the end of the talks, the parties reaffirmed their commitment to further developing cooperation.
ADCB Islamic Bank currently operates in Kazakhstan. The institution is owned by a UAE banking group and offers Islamic financial products. In March 2026, ADCB received approval from Kazakhstan’s financial regulator to establish another subsidiary bank in the country.
The Agency for Regulation and Development of the Financial Market (ARDFM) granted Abu Dhabi Commercial Bank PJSC permission to establish the subsidiary bank Abu Dhabi Commercial Bank (Kazakhstan), obtain bank holding company status in relation to it and establish a subsidiary.
Later, ARDFM Chair Madina Abylkassymova said that Abu Dhabi Commercial Bank would receive a universal banking license by the end of 2026.
