For Press

17/10/2017

Astana International financial centre was presented to the American business community

The presentation of the Astana International Financial Centre “AIFC Undiscovered opportunities from the heart of Eurasia” was held with the support of the Embassy of the Republic of Kazakhstan in the United States of America and The Business Council for International Understanding (BCIU).

Delivering the speech Ambassador Extraordinary and Plenipotentiary of the Republic of Kazakhstan to the United States Yerzhan Kazykhanov stressed that the AIFC was established on the initiative of the President of the Republic of Kazakhstan Nursultan Nazarbayev and is part of the Nation's Plan for implementing five institutional reforms aimed at long-term development of the country.

The AIFC Governor Kairat Kelimbetov noted in his speech that the AIFC will become the financial centre of a new generation that has no analogues in the post-Soviet space. The AIFC will offer its participants unprecedented advantages, including exemption from taxes for 50 years, a special visa regime for up to 5 years, simplified registration based on one window principle, and state-of-the-art infrastructure.

“The AIFC’s key feature is the legal system. The AIFC Independent Courts and the International Arbitration Center will act on the basis of English common law and the standards of the world's leading financial centers, such as London, New York, Singapore, which meet advanced modern practices and are familiar to investors from around the world. The AIFC should become a regional hub for the entire Eurasian region. In addition, the financial centre will be a platform for the One belt – One Road initiative”, K. Kelimbetov said.

“We are pleased that we were able to help the Astana International financial centre present itself to representatives of large American companies. Our goal was to bring together investors who are looking for new ways of development and AIFC, which is ready to offer attractive terms to business”, Peter Tichansky, President and CEO of BCIU said.

At the presentation the AIFC’s speakers covered all the key pillars of the financial centre’s activity including the capital market, asset management, private banking, Islamic finance, green finance, and financial technologies.

It was noted that a new high-tech exchange infrastructure will be created based on the AIFC in cooperation with NASDAQ and the Shanghai Stock Exchange. It will create a liquid and balanced capital market with a wide range of financial instruments. It is planned that the AIFC Exchange will become the main platform for privatization of JSC "Samruk Kazyna" companies and placement of securities "Leaders of Competitiveness - National Champions" programme’s participants.

The American business community expressed a great interest in the new financial centre of Eurasia.

The Governor and representatives of the AIFC answered all the questions of the presentation participants in detail.

 

Reference: 

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.

The Business Council for International Understanding (BCIU) is a nonpartisan, U.S.-based organization that works to expand international trade and commerce. It does this by helping its member companies engage internationally and by facilitating mutually beneficial relationships between business and government leaders worldwide.

With 200 member companies, including many Fortune 500 firms, BCIU delivers strategic insight, worldwide connections and essential services to enable businesses to pursue global growth opportunities. The organization also offers government officials a forum for engaging multinational enterprises as they promote international trade and investment.