For Press

12/12/2016

The Astana International Financial Centre and Union of legal entities «Association of Financiers of Kazakhstan» signed a Memorandum of Understanding

Today the Governor of the Astana International Financial Centre (AIFC) Kairat Kelimbetov and the Chairman of the Union of legal entities "Association of Financiers of Kazakhstan" (AFK) Magzhan Auezov signed a Memorandum of Understanding on the development of Astana as an international financial centre, and creating conditions for the development of the financial industry and associated professional services in the Republic of Kazakhstan.

The Memorandum suggests that mutual efforts of AIFC and AFK will promote financial centre in all strategic directions, and will provide the local and international professional securities market participants with information support for exchanging proposals on strategic development of the AIFC.

For the fulfilment of tasks, the Parties agreed to exchange expert opinions and experience via holding meetings with the experts and representatives of various areas of the financial industry, as well as arranging forums, seminars, and conferences.

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.

 

Union of legal entities "Association of Financiers of Kazakhstan" (AFK) was established in May 1999, in accordance with the resolution of the 1st Congress of Financiers of Kazakhstan. The AFK consists of more than 160 organizations, including banks, insurance companies, and insurance brokers, professional participants of the securities market, leasing companies, micro-financial institutions, audit, and consulting, scientific and educational organizations.