AFSA alerts the public to expired licence of Proportunity Management Company Limited
The Astana Financial Services Authority (AFSA) informs the public that the FinTech Lab[1] licence of Proportunity Management Company Limited expired on July 1, 2024. However, it came to AFSA’s attention that the company continues marketing its products to the public, including products of Islamic Banking and Islamic Financing.
AFSA would like to emphasise that the company was previously authorised as a crowdfunding platform and never applied for or possessed a licence to provide Islamic Banking Business or Islamic Financing.
AFSA urges the public to consult the Public Register, which lists business information for legal entities authorised and/or registered by AFSA. This is a crucial step to ensure a legal entitity is authorised before using any of its financial services or products.
If you wish to reach out to AFSA regarding Proportunity Management Company Limited, please contact AFSA at [email protected] or [email protected].
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.
Around 2,900 firms from 82 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]
[1] FinTech Lab is a tailored live environment, where firms can offer innovative financial and RegTech services without being immediately subject to the full set of regulatory requirements.
