For Press

05/09/2017

NCE RK "Atameken" and Astana International Financial Centre signed a Memorandum of Understanding

Today, the Chairman of the Presidium of NCE RK "Atameken" Timur Kulibayev and the Governor of the Astana International Financial Centre (AIFC) Kairat Kelimbetov signed the Memorandum of Understanding between the National Chamber of Entrepreneurs of the Republic of Kazakhstan "Atameken" and AIFC.  

As it was noted at the meeting, the establishment of the AIFC is an important stage of structural reforms aimed at economic diversification, economic growth and assistance in the formation of the modern financial system of the country.

It is planned to create an independent AIFC Courts based on the principles of English law and standards of the world's leading financial centres. The presence of an independent court will facilitate the creation of an attractive legal environment for investors, providing tools for effective protection of the rights and interests of the participants of the AIFC.

Also, in the near future, within the framework of the AIFC, a new stock exchange is planned to be created with securities placed on it by the most attractive companies of Samruk-Kazyna and other Kazakh companies.

Kairat Kelimbetov noted that the initiative on privatization of the largest national companies announced by the President of Kazakhstan is a unique chance for the development of the domestic stock market, will have a positive effect on domestic companies, will create for them an additional investment attractiveness.

"The cooperation between the National Councils and the AIFC is focused on improving the quality of the investment climate in the country", - Timur Kulibayev said.

He also added that the creation and operation of the financial centre means for the business to raise standards of corporate governance. This applies not only to those companies that themselves go to international exchanges in Singapore, New York, Hong Kong, but also companies that have passed the listing procedure.

Reference:

The National Chamber of Entrepreneurs of the Republic Kazakhstan "Atameken" – is a non-profit organization. NCE is designed to enhance the negotiation power of business with the Government and public authorities. The Chamber represents the interests of small, medium and large businesses and it covers all areas of business, including internal and external trade. The main task of the National Chamber of Entrepreneurs "Atameken" - is protection of the rights and interests of the business, ensuring wide coverage and involvement of all entrepreneurs in the process of formation of legislative and other regulatory rules for business. 

 

AIFC. In December 2015 President of the Republic of Kazakhstan Nursultan Nazarbayev signed the Constitutional law “On the Astana International Financial Centre” (AIFC). The aim of the AIFC is to form a leading international centre of financial services. For the first time in post-Soviet region Common law framework will be introduced in the AIFC. English shall be the official language of the AIFC.

 The objectives of the AIFC are to attract investment into the economy through the establishment of an attractive environment for investment in the financial services, develop local capital markets, ensuring their integration with the international capital markets, and develop markets for insurance and banking services and for Islamic financing in the Republic of Kazakhstan.

Contacts of AIFC PR Department: +7 (7172) 61 37 28, 61 31 30, pr@aifc.kz