AIFC attracts $2.6bn investment and registers over 500 new participants in H1 2025  

The Astana International Financial Centre (AIFC) has reported its results for the first half of 2025. 

Key figures and results for the first half of the year:  

• From January to June, 567 new companies registered with the AIFC, including four fintech firms, five Ancillary Service Providers (ASPs), and seven companies holding financial licences. This brought the total number of registered participants in the financial centre to 4030 companies from 85 countries worldwide. 

• Over the six months of this year, the AIFC ecosystem attracted $2.6 billion in investments, bringing the total volume of investments raised to more than $16.9 billion. 

• In H1 2025 Participants contributed over 70 billion tenge in taxes to the state budget (based on preliminary data).  

Renat Bekturov, Governor of the AIFC, commented: “We continue to actively promote investment into Kazakhstan’s economy and the wider region, to develop a supportive and attractive legal environment for business, and to strengthen international connections. Entrepreneurs from across the globe choose the AIFC as a platform to establish and expand their businesses, as shown by the registration of 567 new companies, the redomiciliation of a major holding, and new listings on the AIX stock exchange”.  

Significant events include: 

• The AIFC maintains its leadership in the Global Financial Centres Index, ranking first among financial centres in Eastern Europe and Central Asia. 

• Approximately 10 000 jobs have been created within the AIFC ecosystem since its inception. 

• The AIFC surpassed the milestone of 4000 registered companies. 

• Holding company Dodo Brands, owner of the largest pizza chain in Russia and Kazakhstan, “Dodo Pizza”, and the digital coffee chain “Drinkit”, completed its redomiciliation from the Virgin Islands to the AIFC.  

• The AIFC held a series of AIFC Connect events in Seoul, Hong Kong, and Chengdu, introducing local entrepreneurs to the centre’s activities and business development opportunities.  

• AIFC experts continued to advance their research efforts, publishing a number of reports and reviews. In partnership with the Institute for Development and Diplomacy (IDD) at ADA University (Azerbaijan), an analytical report was produced on prospects for deepening economic cooperation between Kazakhstan and Azerbaijan; reports on fund management in Kazakhstan; the country’s carbon regulation system; and an overview of trends and prospects in Kazakhstan’s creative industries. 

Stock Market 

In the first six months of 2025, trading turnover on the Astana International Exchange (AIX) reached approximately $729 million, a 3.2% increase compared to the same period in 2024. The number of new listings almost doubled, confirming sustained confidence from issuers and investors.  

Capital raised on the exchange since its launch reached $8.9 billion, with $1.9 billion secured in the first half of 2025 alone.  

Market participants include 56 trading members, comprising brokers from Kazakhstan, China, Europe, and the Middle East, with 5 new members joining in 2025. Ten global custodians hold sub-accounts at the AIX Central Securities Depository (CSD). 

More than 2.2 million retail investor accounts are registered at the AIX CSD. 

By the end of the first half, 301 securities from 165 issuers were listed, with 86 new listings occurring between January and June. 

AIX became one of nine exchanges worldwide accredited to trade International Renewable Energy Certificates (I-REC). The first transaction was concluded between Samruk-Green Energy and the UK company Valor Carbon. In June, Bank CenterCredit became the first bank in Kazakhstan to acquire I-REC certificates via the AIX platform. 

Regulation 

In April, the Astana Financial Services Authority (AFSA) adopted the “Providing Money Services (MSPs)” rules – a significant step towards aligning with global fintech standards. The document consolidates existing regulations, expands coverage of monetary services, and introduces new service models for digital assets. It also strengthens client protection and cybersecurity.  

AFSA officially joined the international I-SCAN initiative, a global cooperation and information-sharing mechanism among securities regulators, under the auspices of IOSCO. 

AFSA issued its first licence for the issuance of fiat-backed stablecoins to AnchorX.KZ Limited, allowing it to operate as a regulated payment service provider in the digital asset space. 

Sustainable Development 

In May, the Aktobe Social-Entrepreneurship Corporation received a Second-Party Opinion from the AIFC Green Finance Centre for its inaugural social bond issuance. This forthcoming bond will be the first social bond, as well as the first ESG-themed bond, issued by a social enterprise corporation in Kazakhstan. 

In June, the Green Finance Centre published the “Casebook on Sustainable Financial Instruments”, showcasing key projects with a combined value exceeding $650 million.  

Also in June, the Green Finance Centre was awarded the Global Banking & Finance Awards 2025 for “Best ESG Consultancy, Kazakhstan”. 

Education 

In the first half of 2025, the AIFC Academy trained 236 professionals in law and finance programmes. A total of 19 training sessions were conducted, aimed at enhancing the professional skills of employees in both public and private sectors. These included courses in corporate law, compliance control, personal data protection, and AIFC legal infrastructure. 

The Academy maintains its Gold Agent status and continues its strategic partnership with BARBRI, the global leader in technology-enabled legal education.  

Court and International Arbitration Centre 

By 30 June, the AIFC Court and International Arbitration Centre had considered and enforced 3961 cases, including 189 court judgments, 3772 arbitration awards, and dispute settlement agreements through mediation. Disputes covered a broad range of issues such as contractual obligations, construction contracts, public-private partnership projects, banking and finance, and real estate. 

Investors from 34 countries choose the AIFC Court for commercial dispute resolution, underscoring the institution’s high level of trust. The Court’s registry includes 789 lawyers from 39 jurisdictions authorised to represent parties.  

The AIFC Court and International Arbitration Centre (IAC) operate modern offices in Astana and Almaty, along with hearing rooms in eight Eurasian countries: Armenia, Azerbaijan, Georgia, Kyrgyzstan, Tajikistan, Turkey, Turkmenistan, and Uzbekistan. In 2024, the Court and the IAC also opened an office in Beijing, China. 

Over seven years, more than 6000 individuals have received training at the AIFC Court and IAC Training Centre, which is now recognised as one of the leading hubs for professional legal skills development in Eurasia.