For Press

07/12/2016

The delegation of the Astana International Financial Centre visited the United Arab Emirates, the State of Qatar and the Kingdom of Bahrain

In order to enhance the cooperation and learn from the best practices of the international financial centres the Astana International Financial Centre (AIFC) delegation visited the United Arab Emirates, the State of Qatar and the Kingdom of Bahrain during 4 - 6 December 2016.

During the visit to the UAE, with the assistance of the Embassy and the Consulate-General of the Republic of Kazakhstan in Dubai, negotiations were held between AIFC delegation and the Governor of the Dubai International Financial Centre (DIFC) Essa Kazim, Director General of the Department of Economic Development Sami Ahmad Dhaen Al Qamzi, Director General of Dubai's Department of Tourism and Commerce Marketing Helal Saeed Almarri, CEO of Dubai Islamic Economy Development Centre Abdulla Mohammed Al Awaar and Director General of the Smart Dubai Office Dr. Aisha Bin Bishr.

In addition, the AIFC delegation visited the DIFC Government Services Office which serves based on a single window system. This experience might be useful for AIFC in terms of establishing the process of issuing employment permits for its future participants.

The AIFC delegation also met with leading financial institutions representatives in the State of Qatar, with the assistance of the Embassy of the Republic of Kazakhstan. During the meetings parties discussed the foundation of the international financial centre with Sheikh Abdullah bin Saud Al-Thani, Chairman of the Qatar Central Bank, Michael Ryan, CEO of the Qatar Financial Centre (QFC) Regulatory Authority, Nasser Ahmed Al Shaibi, CEO of Qatar Financial Markets Authority (QFMA) and representatives of the banking community.  AIFC delegation briefed the Qatari side with the progress of the financial center, initiated by the President of the Republic of Kazakhstan.

As a result of these meetings Qatari financial and banking organizations have expressed interest in cooperation with the AIFC in the fields of Capital Market development, Islamic finance, Asset and Wealth Management.

AIFC delegation also visited the Qatar Stock Exchange and met with Rashid Ali Al-Mansoori, Chief Executive Officer of Qatar Stock Exchange.

Negotiations with Stavros Yiannouka, CEO of the World Innovation Summit for Education (WISE) and Sheikh Abdul Aziz bin Ali Al-Thani, Business Development Chief at Qatar Investment Authority (QIA) were also very productive in terms of sharing expertise.

At the Kingdom of Bahrain the AIFC representatives participated at the World Islamic Banking Conference (WIBC 2016), which is the world largest and the most significant annual gathering of Islamic banking & finance industry leaders for more than 20 years.

As a result of the business meetings with the Rasheed M. Al Maraj, Governor of the Central Bank of Bahrain, Omar Mustafa Ansari, Assistant Secretary General at Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI), Ijlal Ahmed Alvi, CEO of the International Islamic Financial Market (IIFM), Dr. Ahmed Al Shaikh, Deputy Director at the Banking Institute of Finance and Bahrain (BIBF) the Memorandum of understanding and cooperation between AIFC and BIBF was signed.          Based on this document the Parties will cooperate and exchange the expertise.

 

 

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 the 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.

 

BIBF plays a vital role in the training and development of human capital in the Kingdom of Bahrain. Our commitment to excellence has strengthened our position as the top provider of quality education across all major business disciplines. 

 

Banking Institute of Finance and Bahrain (BIBF) plays a vital role in the training and development of human capital in the Kingdom of Bahrain. Our commitment to excellence has strengthened our position as the top provider of quality education across all major business disciplines.

BIBF covers a wide spectrum of subject matter, with over 300 different courses offered to the financial and corporate market; tailor-made training solutions based on organisational requirements; specialised programmes taught by leading market specialists; and professional qualifications and degree programmes in partnership with major international organisations.

 

BIBF continues to exceed global benchmarks for many of the qualifications it offers with its affiliates.

Since its inception in 1981, BIBF has grown from training 450 applicants a year primarily within the banking industry, to 20,000 drawing participants from all sectors of the economy, and are proud to have qualified over 200,000 learners in the last 3 decades.