Astana Financial Services Authority takes part in IX Congress of Financiers of Kazakhstan

IX Congress of Financiers of Kazakhstan has taken place today.

In his address to the Congress, President K.J.Tokayev noted the need to develop the domestic stock market, including AIFC, which should become one of the important sources of financing for the country’s economy.

Governor of the National Bank of the Republic of Kazakhstan Erbolat Dossaev in his address to the delegates of the Congress highlighted that the expansion of access for AIFC participants to the Kazakh market will help attract investments to the country and ensure further development of the financial market of Kazakhstan.

A separate session of the Congress was devoted to regulatory activities “Regulation and Supervision of the Financial Sector: a look into the future”, which was attended by Mukhtar Bubeyev, CEO of Astana Financial Services Authority. The event recording is available here.

According to M. Bubeyev, the Act of Currency Regulation, which had been recently signed between the regulators of Kazakhstan, gives more clarity to residents of the Astana International Financial Center. As it was not clear to AIFC organisations whether they could provide services to Kazakhstani clients, in what currency as well as what is allowed and what isn’t.

As M.Bubeyev noted, AIFC is committed to assist the financial system of Kazakhstan to develop further.

“This Act focused on investment banking, asset management and insurance, as it seems to us that these sectors can supplement the development of the financial market in Kazakhstan,” M. Bubeyev summarized.