For Press

30/11/2016

The Astana International Financial Centre, the Ministry of Information and Communication of the Republic of Kazakhstan and Mayor’s Office of Astana signed a Memorandum of Cooperation

Today within the framework of the International Forum and Exhibition ASTEX Astana Smart City 2016 the Astana International Financial Centre (AIFC), Ministry of Information and Communications and Mayor’s Office of Astana signed a tripartite Memorandum of mutual cooperation.

The memorandum envisages cooperation aimed at the development of infrastructure and implementation of innovative projects. In particular, as noted by the Parties, it will be possible to implement joint scientific and technical research projects in the field of new financial technologies. The parties agreed to cooperate on the development of fintech accelerator (labs, incubators) at the AIFC. It is also planned to carry out research and the practical application of the technology of distributed databases (blockchain technology).

The Governor of the Astana International Financial Centre Kairat Kelimbetov noted that AIFC aims to attract investments into Kazakh economy offering a favourable environment for the financial services industry. He reminded that one of the main directions of the AIFC is the development of new financial technologies. "We aim to become a centre of fintech projects due to modern infrastructure, developed laboratories and close cooperation with major financial and technology companies", – said K. Kelimbetov.

             

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.