Astana international financial centre, Global Venture Alliance and Autonomous Cluster Fund “Park of Innovative Technologies" signed a Memorandum of Cooperation in order to develop financial technologies.
The document was signed by Kairat Kelimbetov, the Governor of the Astana international financial centre, Laird Kagan, Managing Partner of the Global Venture Alliance and Sanjar Kettebekov, General Director of the ACF “Park of Innovative Technologies”.
According to the Memorandum, AIFC, Global Venture Alliance and ACF “Park of Innovative Technologies” intend to cooperate and exchange information on the development of legislation regulating crypto-currency transactions in AIFC, creating an ecosystem for using blockchain technology, crypto-currency and other crypto projects, and creating an enabling environment for Kazakhstan's innovative development.
The Governor of the Astana international financial centre Kairat Kelimbetov noted that financial technologies are one of the AIFC’s priority activities.
"We aim to make the AIFC platform one of the most favourable and reliable jurisdictions for crypto-currencies in the world," Kelimbetov stressed.
“Crypto projects are a promising direction that is just beginning to develop in Kazakhstan. Meanwhile, the world practice shows that blockchain technologies have many advantages and make it possible to quickly attract capital. Cooperation with the Global Venture Alliance will allow AIFC to apply the latest technological innovations based on the best world practices”, said Laird Kagan, Managing Partner of the Global Venture Alliance.
"I am very happy that the Astana international financial centre has chosen financial technologies as one of its main directions. I think that AIFC will concentrate innovative projects that allows many start-upers to try their hand, and more experienced players to hone their skills”, said the General Director of ACF Park Innovation Technologies Sanjar Kettebekov.
Within the framework of the partnership, the Parties intend to establish a working group, to provide mutual assistance in conducting scientific and educational events, such as summits, conferences, seminars and round tables, and to assist AIFC in assessing relevant international practices.
AIFC: In December 2015, the President of the Republic of Kazakhstan, Nursultan Nazarbayev, signed the Constitutional Law on the establishment of the Astana International Financial Centre (AIFC). The purpose of the AIFC is to form a leading centre of financial services of an international level. For the first time in the post-Soviet space, the principles of English law will be introduced: the official language of the financial centre will be English.
AIFC's tasks are to assist in attracting investments in the country's economy by creating an attractive environment for investing in financial services, developing the securities market of the Republic of Kazakhstan, ensuring its integration with international capital markets. AIFC also intends to develop in the country the market of insurance, banking services and the market of Islamic financing.
Global Venture Alliance (GVA) is a transnational holding, created with a goal to identify and address global challenges of the 21st century, prepare and develop the leaders of the future through technology and education. GVA currently operates on 3 continents working with startups, corporations and governments to create innovation economy through building acceleration programs, investing in high-tech startups and educating professionals.
Autonomous Cluster Fund “Park of Innovative Technologies” (Almaty Tech Garden, hereinafter – Fund) has the status of autonomous financial organization. The chairman of the Supreme Board of Trustees is the President of the Republic of Kazakhstan Nursultan Nazarbayev, Chairman of the Management Committee is Prime Minister. Fund consolidates existing potential and R&D infrastructure in Almaty and Special Economic Zone “PIT”, transfers 1% of total annual revenue from subsoil users to innovative projects, focuses on creating Technology Centres based on transnational companies and attracting critical mass of start-ups.