AIFC Business Connect announces new Chairman of the Board

Mr. Zhaslan Madiyev, Deputy Chairman of the Agency for Strategic Planning and Reforms of the Republic of Kazakhstan and former Deputy Minister of National Economy (responsible for investment policy, among other things), has been appointed as the incoming Chairman of the Board of AIFC Business Connect Ltd.

Commenting on his appointment, Mr. Madiyev said: “Kazakhstan is already the most promising investment destination in Central Asia, and AIFC has played a critical role in developing and promoting the opportunities that exist for the international investment community. However, a new set of challenges emerged worldwide with the spread of the pandemic. The Government of Kazakhstan leads on ensuring these challenges are met with innovative and appropriate reform, supporting AIFC and AIFC Business Connect in delivering the platform to maintain and foster sustainable investment into the country.”

Mr. James Martin, CEO of AIFC Business Connect, added: “I very much welcome the appointment of Mr. Madiyev, whilst taking the opportunity to thank our first Chairman, Mr. Nurlan Kussainov, for his tireless commitment and support as AIFC Business Connect became established as the international investment partner body for the AIFC.” Mr. Martin continued: “Mr. Madiyev’s extensive knowledge of global financial markets and strategic leadership experience at the highest-level offer Business Connect and the AIFC an opportunity to exceed the demands rightly placed upon us by the international private-sector and investment community, as well as the Government and agencies of the Republic of Kazakhstan.”

Mr. Madiyev takes over the position of Chairman, succeeding Mr. Nurlan Kussainov, former CEO of the Astana International Financial Centre.



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. In accordance with 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.

The mission of the AIFC is in assisting the sustainable and long term development of the region. As the head of state Tokayev noted, “AIFC, with its unique opportunities, can act as a universal platform that connects the countries in the region.” The strategic directions for the sustainable development of the AIFC include the development of a circular economy, financial technologies, and “digital financial centre.”

AIFC AI assistant