Astana Finance Days 2024, the main financial conference of the Eurasian region, has commenced in Astana

On 5-6 September 2024, the Astana International Financial Centre (AIFC) is hosting the annual Astana Finance Days (AFD) conference. Since its inception in 2018, AFD has served as the principal platform for bringing together leading financial experts, investors, and business leaders from across the Eurasian region. With over 3,000 participants from more than 70 countries attending each year, this event has become a cornerstone in Central Asia’s financial landscape.

This year, AFD 2024 is centered around the theme “Innovate. Invest. Impact,” with a focus on discussing cutting-edge technologies in the financial sector, investment opportunities in Kazakhstan, and the role of finance in fostering sustainable development and positive societal change. Government officials, financial and economic experts, investors, and business leaders will converge to discuss the latest challenges, trends, and opportunities within the financial industry.

Golden partners for the conference include Visa, Freedom Broker, and KAZ Minerals Group, while Silver partners are Solidcore Resources, Eurasian Bank, and MYD Production. Bronze partners include Eurasian Resources Group (ERG), Allur, Bitfinex Securities, and ITS. The fintech partner for the event is Mastercard.

The AIFC Governor, Renat Bekturov noted: “Kazakhstan has significant potential for attracting international investments, but in highly competitive global financial market, innovative approaches and solutions are essential. The AIFC has already become an effective platform for facilitating investments in Kazakhstan’s infrastructure projects and introducing new financial products. Astana Finance Days 2024 is a unique platform in the region, bringing together government officials, business leaders, and the expert community to discuss key issues that are not only relevant to our country but also critical for the global financial community. This year, we will address current challenges and explore new strategies to drive the long-term growth and development of the country’s financial sector.”

The first day of the conference will feature panel sessions on topics such as shaping the future of investment in regional infrastructure, energy and construction sector development, the state of sustainable finance in Central Asia, innovative investment strategies in alternative assets, transition finance, creating a favourable financial environment for electric vehicle adoption, improving operational and administrative practices in asset management, investing in talent within the creative industries, and the implications, risks, and opportunities of AI in human capital development, among others.

For the first time in Kazakhstan, the AIFC Court and International Arbitration Centre (IAC), in collaboration with the international organisation ArbitralWomen, will host “IAC: Women in Arbitration Day” as part of AFD. The event will focus on diversity and inclusion in international arbitration. Leading female arbitrators, academics, and lawyers from around the world will gather to share experiences and discuss the challenges faced by women in international arbitration. Key topics will include dispute resolution in the energy and construction sectors, as well as strategic venue selection for arbitration. A highlight of the event will be a session with Carolyn Lamm, a partner at White & Case LLP and a renowned expert in international arbitration. Additionally, young lawyers will have the opportunity to participate in a practical workshop led by the Director of Legal Services at DLA Piper, offering valuable insights and skills in international arbitration (location – Aiteke Bi Hall).

Moreover, the AIFC is taking a significant step in supporting the creative industry. At the panel session «AIFC as a destination for creative business»​ (05.09., 17:00-18:00, Al Farabi Hall), the AIFC Venture Studio Rules will be announced. This initiative will establish a legal framework for regulating venture business, aimed at fostering the growth of innovative startups and their subsequent scaling within the AIFC.

Key features of the Venture Studio Rules include the creation of a legislative framework for the establishment of venture companies, the provision of legal certainty regarding financial and non-financial support for startups, and clarification on how venture studios, entrepreneurs, and startups interact with each other and the market as a whole. The Rules also facilitate business operations within the venture studio model, enabling  the incubation of new business ideas, sponsoring entrepreneurs, and reducing the costs associated with scaling new businesses.

Daniyar Kelbetov, Chief Product Officer at AIFC Authority, commented: “The creative industry is playing an increasingly important role in the global economy, and the AIFC aims to become a magnet for innovative projects in this field. The new act will allow entrepreneurs to use the venture studio model to incubate and develop creative business ideas. Companies can develop projects from the idea stage to the minimum viable product (MVP) stage. Upon successfully reaching MVP, these projects will be transformed into registered companies ready to enter the market.”

Furthermore, the «AIFC as a destination for creative business»​ session (05.09., 17:00-18:00, Al Farabi Hall) will also include the signing of a memorandum of understanding between TechHub Limited (AIFC) and Truleum Venture Studio Limited, a venture studio based in the Dubai International Financial Centre. The  signatories will be Talgat Amanbayev, Chief Innovation Officer at AIFC Authority, and Dolly Ramaya, CEO of Truleum Venture Studio Limited. The memorandum aims to jointly create and launch the “Fintech Venture Studio” based at the AIFC. The signing of this memorandum marks a significant step in the development of innovative technologies and entrepreneurship in Kazakhstan, opening new avenues for successful startup creation and the growth of the creative sector in the country.

One of the key milestones will be the establishment of the first registered venture studio at the AIFC, created in accordance with international practice. This is a significant step in the development of venture studios in Kazakhstan, opening new opportunities for startups and entrepreneurs.

At the session «Implications, risks and opportunities of AI in human capital development»​ (05.09., 17:00-18:00, London Hall), the AIFC Academy will announce the development of unique minor programmes in finance for leading universities in Kazakhstan. The project, to be implemented throughout the academic year,  will cover ten specialised areas aligned with the current challenges of the modern financial and economic landscape.

“The launch of these minor programmes will provide undergraduate and graduate students with access to up-to-date knowledge and skills, making them more competitive in the ever-changing job market,” noted AIFC Academy Director, Aidos Sakenov.

Following this session, a memorandum of understanding between the AIFC Academy and Quantum Management Company will  be signed, aimed at developing specialised educational programmes in Kazakhstan. The parties plan to jointly organise and conduct educational research events, utilising the latest methodologies in STEM and the International Baccalaureate (IB). Both sides intend to implement a series of joint projects, including the establishment of the “Artificial Intelligence in Finance” laboratory at Quantum TECH School, which will make a significant contribution to the development of Kazakhstan’s education system.

The day before the conference, the Astana Financial Services Authority (AFSA) and the Financial Services Regulatory Authority of the Sultanate of Oman signed a roadmap to strengthen cooperation.

Earlier, ETSE Ltd., as the first Multilateral Trading Facility (MTF) designed for commodities trading has obtained a license at the Astana International Financial Centre. The company will facilitate smooth transactions for strategic export commodities throughout Kazakhstan and the CIS region.The launch of such a platform is a significant step in strengthening and advancing the AIFC regulatory framework and the development of the commodity market in the AIFC and Kazakhstan. It promotes Kazakhstan’s integration into international commodity markets and stimulate economic growth, while also introducing  new trading products, diversifying  market offerings and increasing market liquidity and transparency.

In the run-up to AFD, the AIFC management also held business meetings with representatives of the Islamic Development Bank, the OPEC Fund for International Development, and delegations from the Republic of Congo and Zimbabwe.

Reference:

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. www.aifc.kz

AIFC Media Relations

Ainur Issabayeva

Press secretary

Phone: +7 701 777 6558

E-mail: [email protected]