AFSA discusses regulation requirements with insurance business of AIFC

Regulation plays a critical role in creating an enabling environment for financial service providers whilst ensuring the interest of clients are protected for financial products like insurance business.

In recognizing the importance of effective regulation and supervision to develop sustainable insurance markets in the AIFC, the Astana Financial Services Authority (AFSA) held an online-workshop for insurance firms and insurance intermediaries across the AIFC to discuss the key challenges they face in the insurance business.

This event was devoted to various topics in the prudential regulation of insurance firms and insurance intermediaries and their reporting requirements – with keynotes and insights from the AFSA.

The participants also discussed the response to COVID-19 pandemic and regulatory relief measures taken by the AFSA.

AFSA plans to conduct similar workshops for banking and investment firms and welcomes all interested parties to join the discussion. The dates of such event will be announced later.