For Press

15/06/2017

Astana International Financial Centre (AIFC) held a panel session "The Impact of Technology on the Development of Financial Centers" within the framework of AEF-2017

The International Financial Center "Astana" organized a panel session "The Impact of Technologies on the Development of Financial Centers" within the framework of the Astana Economic Forum.

Such speakers as Mark Yeandle, Associate Director, The Z/Yen Group, Alexei Malinovsky, Head of Mastercard in Russia, Kazakhstan, Belarus and Armenia, Max Hauser, Partner and Managing Director at The Boston Consulting Group, Alexandre Gaillard, Founder and CEO of InvestGlass, Co-founder of the Swiss Finance + Technology Association took part in the event.

Nurlan Kussainov, CEO, Astana International Financial Center Authority represented the AIFC.

Independent expert, Dr. Jochen Biedermann moderated the discussion.

Global trends in the financial technology industry, the role of financial technologies for improving the efficiency of the financial center, methods for increasing the attractiveness of financial centers for participants in the financial technology industry, Index of global financial centers as a method of determining the competitiveness of a financial center were discussed during the session.

As noted by the CEO of the AIFC Authority Nurlan Kussainov, the AIFC now creates good conditions and an affordable infrastructure for the development of financial technologies. The financial center also relies on recruiting young talented specialists.

According to the founder and CEO of InvestGlass Alexandre Gaillard, the main goal of financial technology is to bring benefits to the people. He highlighted that financial centers play a pivotal role in the development of financial technologies.

Alexei Malinovsky, Head of Mastercard in Russia, Kazakhstan, Belarus and Armenia commented cooperation with the AIFC: "We can promote the transformation of Kazakhstan into a digital country with a non-cash economy".

"Our cooperation will not only help the AIFC, but the whole country", – he concluded.

 

Reference:

AIFCIn 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, to develop local capital markets, ensuring their integration with the international capital markets, and to develop markets for insurance and banking services and for Islamic financing in the Republic of Kazakhstan.