In December 2020, the Astana Financial Services Authority issued a license for the provision of legal services to the AIFC Green Finance Centre (hereinafter - the Centre), verbal and written consultations, explanations, and conclusions on various legal issues, including issues related to environmental law.
This license allows the Centre to assist potential and established AIFC participants in obtaining legal advice from the partners of the Centre, represented by lawyers from the best legal and consulting companies in Kazakhstan in the field of environmental law.
On June 4, 2021, as the first stage of the Centre's work as a legal hub in the field of environmental law, the Centre has concluded a memorandum of understanding with the Kazakh law firm “Signum”. Cooperation has been established to achieve the goals and initiatives in the field of legal services. This memorandum implies joint activities on the provision of legal services, as well as mutual promotion of the parties at the regional and international levels on the development of environmental legislation.
In addition, the signed Memorandum will allow the Parties to carry out joint activities on the development of legal services, as well as consideration and resolving of topical issues on the application of the new Environmental Code of Kazakhstan.
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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 AIFC Green Finance Centre is an AIFC Organisation created to enable the development of green finance in Kazakhstan and Central Asia. The main goal is to bring investments to sustainable economy through trending financial instruments, such as green and social bonds. In addition to that, the AIFC Green Finance Centre, being a regional think-tank, provides strategic and business consulting in green finance and sustainable development to Governments, quasi-state organisations and entrepreneurs. The Centre provides initial assistance to potential issuers, investors and market players on preparations for the issuance of green bonds on the AIFC Exchange (Astana International Exchange).
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