For Press

09/11/2016

The AIFC delegation held negotiations with Japanese financial institutions

During the official visit of the President of Kazakhstan Nursultan Nazarbayev to Japan on November 7-9, the AIFC delegation led by Kairat Kelimbetov, Governor of the Astana International Financial Centre conducted negotiations with the Japanese financial institutions.

During the business forum organized by the Ministry of Investment and Development of Kazakhstan jointly with the Embassy of Japan, K. Kelimbetov briefed the participants with the President of Kazakhstan Nursultan Nazarbayev’s initiative to create AIFC. According to K. Kelimbetov, AIFC is one of the main components of the structural reforms carried out at the moment in Kazakhstan, aimed at diversifying the economy, stable growth and promote the development of the country's financial system. The Governor of the AIFC also told about the strategic directions of the AIFC, its objectives and priorities, benefits and advantages.

As a result of the agreements reached, the "Astana" International Financial Centre and Japan Securities Dealers Association signed a Memorandum of Cooperation.

The AIFC delegation also had meetings with the heads of «Mizuho Financial Group, Inc.», «Sumitomo Mitsui Financial Group», «Japan Exchange Group», and «Nomura Asset Management» companies. Japanese corporations have expressed interest in cooperation with the AIFC in the areas of capital market development, asset management and well-being of individuals, and Islamic finance.

He also met with representatives of «SoftBank Group Corp.», companies «Mistletoe» and «Palo Alto Networks», where the parties discussed the questions of the creation of venture capital funds and financial technology development.

 

Reference:

 

AIFCIn December 2015, the 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 a post-Soviet region, a 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 Republic of Kazakhstan economy through the establishment of an attractive environment for investment in financial services, develop local capital markets, ensuring their integration with international capital markets, and develop markets for insurance and banking services and for Islamic financing in the Republic of Kazakhstan.

Mizuho Financial Group Inc. is a bank holding company which manages and engages in ancillary operations related to the management of its legally–owned subsidiaries as defined by the Japanese Banking Act. Its activities include streamlining group management functions, creating synergies across various business fields and capabilities, and leveraging the defining strengths and characteristics of the Mizuho group.

Sumitomo Mitsui Financial Group was established through a share transfer from Sumitomo Mitsui Banking Corporation in December 2002. It is the second largest bank in Japan by market value.

The companies of SMFG offer a diverse range of financial services, centred on banking operations, and including credit card services, leasing, information services, and securities.

Nomura Asset Management Co., Ltd. - is the core company within the Asset Management Division of the Nomura Group, serving retail and institutional investors worldwide. We are a major presence in the global investment industry, and especially within Japan and Asia, with total assets under management of approximately 46 trillion Yen (397 billion US dollars) as of December 2016.

SoftBank Group Corp. is a Japanese multinational telecommunications and Internet corporation. It has operations in broadband, fixed-line telecommunications, e-commerce, Internet, technology services, finance, media and marketing, semiconductor design, and other businesses. 

Mistletoe is an investment company, which implements projects in the field of business education start-ups.

Palo Alto Networks is a leading network and enterprise security company and creator of a new generation of firewalls.