Abstract
The relevance of the article is caused by the changes occurring in Kazakhstan related to the strategicdirection of the country’s development in order to be included in the top 30 most developed countriesin the world. Therefore, in order to achieve this high goal, it is necessary to successfully implement the“Digital Kazakhstan” program, but one should not forget about the spiritual direction of development,therefore the “Rouhani Zhangyru” program is being introduced in the country. An important problem isthe fact that it is the modernization of society and the country in the main directions that will help ensurethe global sustainable competitiveness of the country in the global space. In this regard, the issuesof diversification of financing of the real sector of the economy were considered, where efforts shouldbe directed towards the growth and strengthening of the positions of the private sector and small andmedium-sized businesses. However, in the digitalization age, large investments are required for the developmentof IT technologies in various key sectors of the country’s economy. The purpose of this articleis to consider alternative sources of financing in the market that will contribute to the competitivenessand sustainability of a country in a global world where there are chain reactions during crises. The resultsof the research are presented in the work. The statistical data on the production volume of the real sectorfrom 2013–2017 were considered, and based on the results of the study, a model of the mechanismfor the implementation of an alternative financing method was proposed, i.e. Islamic finance, which isbased on spiritual moral and ethical principles. And the work presents key changes in the economy thatwill be caused by a wide active introduction of Islamic finance.