For Press

18/10/2016

AIFC holds Investor Day in London

Astana International Financial Centre (AIFC) in cooperation with TheCityUK, the Institute of Chartered Accountants in England and Wales (ICAEW) and the Embassy of the Republic of Kazakhstan in the UK held the Investor Day in London (United Kingdom).

H.E. Erzhan Kazykhanov, Ambassador of the Republic of Kazakhstan to the United Kingdom of Great Britain and Northern Ireland, ICAEW Executive Director Robert Hodgkinson, Steve Bourne, Head Eurasia, TheCityUK, and H.E. Kairat Kelimbetov, Governor of the Astana International Financial Centre made an address to the members from the international business community.

Ambassador Kazykhanov pointed out that Kazakhstan's economic growth enables the development of an attractive environment for foreign investors and that AIFC will contribute enormously by becoming the leading financial centre complying with best international standards.

Steve Bourne, Head Eurasia, TheCityUK, said that TheCityUK and the European Bank for Reconstruction and Development are working together under the terms of a Memorandum of Understanding with Governor Kelimbetov and the AIFC Authority to help develop the new Astana International Financial Centre. The UK-based financial and related professional services industry support this initiative, which will underline the importance of the investment climate and integration into international business standards. The creation of the new AIFC sends a clear signal that Kazakhstan is open for business and ready to welcome foreign direct investment, within a strong and assured regulatory framework.

ICAEW Executive Director, Mr. Robert Hodgkinson said that with the establishment of AIFC, the region will become more attractive to foreign investors since AIFC is going to apply English law and regulations, including financial reporting requirements, and will comply with international standards.

Mr. Kairat Kelimbetov, Governor of AIFC, shared details about the strategic goals of the financial centre. He noted that creation of AIFC is part of the structural reform to diversify the economy of Kazakhstan. According to Mr. Kelimbetov, the country has created favourable conditions for the effective functioning of a financial centre in accordance with international standards. He also drew the attention of investors to the privatisation of the national companies of "Samruk-Kazyna" through an IPO on AIFC exchange.

Governor Kelimbetov also noted that China's 'One BeltOne Road' initiative is closely correlated with Kazakhstan’s long-term strategic development and contributes AIFC to become a regional financial hub.

Participants of Investor Day were interested in the strategic goals of AIFC, the new exchange infrastructure that will be established at AIFC together with the strategic partner, the IPO pipeline, AIFC courts and Astana International Arbitration Centre and many other areas of AIFC's operation. The Governor and other AIFC representatives gave detailed answers to all the questions of the participants.

Reference:

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.


 
TheCityUK represents the UK-based financial and related professional services industry. At home in the UK, in the EU and internationally, it seeks to influence policy to drive competitiveness, creating jobs and lasting economic growth – www.thecityuk.com.

 

ICAEW (the Institute of Chartered Accountants in England and Wales) is a world leading professional membership organisation that promotes, develops and supports over 146,000 chartered accountants worldwide. We provide qualifications and professional development, share our knowledge, insight and technical expertise, and protect the quality and integrity of the accountancy and finance profession.

As leaders in accountancy, finance and business our members have the knowledge, skills and commitment to maintain the highest professional standards and integrity. Together we contribute to the success of individuals, organisations, communities and economies around the world.