For Press

17/07/2017

Astana International Financial Centre and Malaysia Debt Ventures Berhad signed Memorandum of cooperation

Today, within the framework of the International Specialized Exhibition "EXPO-2017", the Astana International Financial Centrе organized a business seminar in conjunction with GreenTech Catalyst Sdn Bhd (Malaysia). The seminar dedicated to the issues of Islamic and "green" finance and will last until July 23rd, 2017 in the Malaysia pavilion.

The seminar will touch upon the Islamic capital market and the Malaysian experience in the production of "green sukuk", the development of "green" financing for sustainable development, as well as the prospects for the development of "green" and Islamic financing in Kazakhstan.

In addition, the AIFC and Malaysia Debt Ventures Bhd signed Memorandum of cooperation.

Within the framework of the Memorandum, the parties will make efforts to exchange best practices and knowledge in the field of "green" and Islamic finance, as well as financing "green" projects using Islamic financing tools.

Islamic finance and green finance are important areas of the AIFC activities.

Reference:

AIFC. In 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.

GreenTech Catalyst Sdn Bhd is a subsidiary of GreenTech Malaysia Alliances, owned by the Malaysian Green Technology Corporation (GTC).

GTC was established to introduce "green technologies" through the provision of consulting and business services in the field of standardization, business incentives and financing.

Malaysia Debt Ventures Bhd. (MDV) was created to provide Malaysian companies working in the field of "green technology" financial instruments in accordance with the principles of Islamic finance.