On 2 July, the official launch of the book “The Law of the AIFC” was held within the AIFC Law Conference under the umbrella of Astana Finance Days. The book has been authored by Michael Blair QC, who has been chairing the AIFC Legal Advisory Council since its establishment in early 2017. He is also a leading counsel at 3 Verulam Buildings Barristers in London.
The book describes a brief history of the formation of the AIFC legal regime, the reasons, and features of the choice of English common law as the basis for the AIFC Acts, and their advantages and application in practice by foreign investors as well as local entrepreneurs.
During the presentation, Mr Blair QC and the speakers of the event shared the key messages outlined in the book and their vision for the further development and application of the AIFC jurisdiction.
Mr Kairat Kelimbetov, Chairman of Agency for Strategic Planning and Reforms, Governor of the AIFC:
«This book is the first and exclusive work describing the history of establishing and uniqueness of the AIFC Law. A reader has a great opportunity to dive into details of the AIFC legal environment to show its structure and benefits from the draftsmen view.
Describing these with the expert’s view, which the book does, is highly essential, as the AIFC has been playing an important role in reinforcing the growth of the economy and attracting regional and international investments into Kazakhstan, including granting access to impartial and independent justice.»
Mr Igor Rogov, Member of the Academic Council of the AIFC Academy of Law, Deputy Executive Director of the Foundation of Nursultan Nazarbayev, Member of European Commission for Democracy through Law (the Venice Commission):
«Mr Blair immerses the reader in the history of the formation of own legal regime the financial centre, based on the principles of English law, and reveals the advantages and features of its practical application not only by foreign investors but also by Kazakhstani entrepreneurs.
I am sure that the publication of the book will arouse interests among Kazakhstani and foreign lawyers and become a practical guide for everyone interested in the AIFC.»
The book is available to download via the following link: https://aol.aifc.kz/the-law-of-the-aifc-by-mr-michael-blair-qc/
Reference:
The Astana International Financial Centre was created by the initiative of the First President of the Republic of Kazakhstan, Leader of the Nation, Nur-Sultan Nazarbayev as part of the “100 steps to implement five institutional reforms” national program. The Centre’s development strategy until 2025 was approved by the Management Council of the AIFC during the council’s meeting on July 2, 2020. Following the strategy, the vision of AIFC is in becoming the leading financial centre in the region that includes Central Asia, the Caucasus, EAEU countries, western China, Mongolia, and Eastern Europe. https://aifc.kz/
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