AFSA issues Consultation Paper on the proposed AIFC treasury framework. Deadline for providing comments is 26 July 2024

The Astana Financial Services Authority (AFSA) has issued a Consultation Paper on the proposed AIFC treasury framework to seek suggestions from the market.

AFSA proposes developing a tailored framework for Corporate Treasury Centres (CTCs), which usually help multinational corporations in achieving cost-savings, managing liquidity across various subsidiaries within a region, improving cash management efficiency, conducting hedging and investment operations amongst other benefits.  CTC operations are proposed to be part of the AIFC Collective Investment Scheme Rules with less stringent provisions in relation to a Fund Manager of the CTC Fund as CTCs do not pool assets from non-Group member companies.

The proposals in this paper will be of interest to current or potential applicants, such as multinational corporations, ancillary service providers and professional advisors, seeking to engage in conducting regional treasury activities in or from the AIFC.

The deadline for providing comments is 26 July 2024. Once we receive your comments, we shall consider if any refinements are required to this proposal.

AFSA prefers to receive comments by email at [email protected].

The Consultation paper can be accessed via the link: https://orderly.myafsa.com/articles/consultation-paper-afsa-p-ce-2024-0005-from-26-june-2024-on-the-aifc-treasury-framework.

Reference:

The Astana Financial Services Authority (AFSA) is the independent regulator of the Astana International Financial Centre (AIFC), which is established in accordance with the Constitutional Law of the Republic of Kazakhstan “On the Astana International Financial Centre” for the purposes of regulating financial services and related activities in the AIFC. AFSA administers the AIFC Regulations and Rules and is responsible for the authorisation, registration, recognition and supervision of financial firms and market institutions in the AIFC.

Over 2,700 firms from 78 countries are registered in the AIFC. These firms provide banking, insurance, investment, professional and other services. The range of financial services offered at the AIFC is comparable to the list of services available in long-established financial centers of the world, such as London, Hong Kong, Singapore, Dubai and others. www.afsa.kz

The Astana International Financial Centre (AIFC) is an independent jurisdiction with a favourable legal and regulatory environment and a developed infrastructure for starting and doing business, attracting investment, creating jobs and developing Kazakhstan’s economy. https://aifc.kz/ 

Contact information:

Public Relations and Communications Division of AFSA: +7 (717) 264 73 43; +7 7172 61-37-45 email: [email protected]