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The Astana International Financial Centre, Ministry for Investments and Development of the Republic of Kazakhstan and Ministry of Energy of the Republic of Kazakhstan signed a Memorandum of Understanding

Astana International Financial Centre (hereinafter – AIFC), the Ministry for Investments and Development of the Republic of Kazakhstan (MID RK) and the Ministry of Energy of the Republic of Kazakhstan (ME RK) signed a Memorandum of Understanding (MOU) in accordance with the decision adopted at the plenary session of the Foreign Investors Council under the President of Kazakhstan on 27 May 2016 to establish a new exchange infrastructure, including exchange platform for subsoil user companies.

           The document suggests cooperation between the Parties in the development of subsoil use industry, including the promotion of transparency and predictability of subsoil user companies. It will also facilitate the introduction of the international system of accounting standards of mineral resources, the development of long-term capital market (including for small and mid-cap companies), the formation of a new class of issuers among Kazakhstani subsoil user companies and improvement of the investment climate in the area of Kazakhstan’s industry of subsoil use.

            According to the AIFC Governor Mr. Kairat Kelimbetov, the establishment of AIFC-based exchange platform will provide various companies, including small and mid-cap as well as junior mining companies, with an opportunity to attract equity and debt financing through the AIFC securities market.

            In turn, the Minister for Investments and Development Zhenis Kassymbek  emphasized that tripartite cooperation will help to successfully fulfil the assigned tasks given by the Head of State in the sphere of subsoil use development, including the establishment of an effective source of funding for subsoil use companies through AIFC exchange platform.

             In addition, the Minister of Energy of the Republic of Kazakhstan Kanat Bozumbayev noted that Kazakhstan is actively working on the extraction and processing of minerals, including hydrocarbons. Kazakhstan is known for the huge oil and gas reserves and has more than 200 existing fields, the rest are being explored. Successful exploration and development of the fields require a significant capital investment, which makes crucial to provide the subsoil user companies with instruments for funding.


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.


Ministry for Investments and Development of the Republic of Kazakhstan is a state authority of the Republic of Kazakhstan leading in the sphere of industry and industry-innovation development, scientific-technical country development, state innovation policy and policy of investments support, creating a favourable investment climate, and other areas. 


The Ministry of Energy of the Republic of Kazakhstan is the central executive body of the Republic of Kazakhstan that conducts formation of the state policy, coordination of the management process in the areas of oil&gas and petrochemicals industries.