For Press

26/05/2016

The Astana International Financial Centre and Bloomberg L.P. signed a Memorandum of Understanding

Today, within the framework of the IX Astana Economic Forum, the AIFC Authority and Bloomberg L.P. signed a Memorandum of Understanding.

The main purpose of signing the Memorandum is to establish mutually beneficial relations to increase the level of cooperation between the two organizations for promotion the AIFC as a financial hub on the international arena and creation a liquid capital market to attract investments.

The memorandum covers the areas of cooperation in the development of the following AIFC’s main strategic directions: the capital market, asset management, private banking, Islamic finance and financial technologies.

 «Cooperation with Bloomberg within the framework of this memorandum is aimed at stimulating the growth of the capital market and supporting the capital formation process due to the unique capabilities of Bloomberg in the financial ecosystem», - stated by Kairat Kelimbetov, Governor of the AIFC.

The signing of the Memorandum is an important step towards the development of information and communication technologies at the AIFC.

 

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.

AIFC Authority was established on December 28, 2015. The founder and sole shareholder of the AIFC Authority is the National Bank of Kazakhstan, whose shares are transferred under trust management to the Ministry of Finance of the Republic of Kazakhstan.

The main activities of the AIFC Authority include, but are not limited to, the development of the overall development strategy, promotion of the AIFC in the global markets, attraction of potential participants to the AIFC, recruitment of foreign experts with financial centre experience to the AIFC management.

Bloomberg L.P. is one of the leading providers of financial information for professional participants in financial markets. The main product is Bloomberg Terminal, through which it allows access to current and historical prices on almost all world exchanges and many over-the-counter markets, the Bloomberg news line and other leading media, the electronic trading system of bonds and other securities.