Astana hosts the second day of the main financial conference of the Eurasian region – Astana Finance Days 2024

On September 6th, the Astana International Financial Centre (AIFC) continues with  the “Astana Finance Days” (AFD 2024) conference. This event serves as a  key platform for discussing current issues, trends, and opportunities within the financial sector across the Eurasian region. Each year, the conference attracts over 3,000 participants, including  government officials, leading financial experts, investors, and business leaders, solidifying its role as a key forum for discussing the latest developments and trends in Central Asia’s 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.

This year, AFD 2024 is centered around the theme “Innovate. Invest. Impact” and aims to explore cutting-edge technologies in the financial sector, Kazakhstan’s investment opportunities, and the impact of finance on sustainable development and positive societal change.

On the second day, speakers will discuss the investment potential and the role of financial institutions in Kazakhstan and the region, data protection, the use of artificial intelligence in business, the creation of a voluntary carbon market in Kazakhstan, capital markets, financial technologies, and Islamic financial solutions for corporate and retail sectors. Sessions within the AIFC Community initiative will also take place for the Centre’s Participants.

As part of the conference, a business breakfast will introduce the AIFC’s new initiative — AIFC Business Club. This exclusive community of like-minded individuals brings together top managers, company owners, progressive business leaders, and investors. The AIFC Business Club is designed to create a platform for experience exchange, business networking, mutual business development, and support for innovation. The club will host regular events, business meetings, and networking sessions, and offer a range of exclusive offerings to its members.

At the session «Privacy in the age of AI: evolving business challenges and adaptive success strategies» (06.09., 10:00-11:00, Aiteke Bi Hall), a practical guide to the use of artificial intelligence (AI) and data protection within the AIFC will be presented.

This initiative underscores the AIFC’s commitment to creating a secure and innovative environment for delivering financial services both within Kazakhstan and beyond. As AI technology rapidly advances, its integration into financial services presents significant opportunities and challenges. The AIFC recognizes the need for a robust legal framework that not only encourages innovation but also ensures the protection of personal data and upholds individual rights.

By establishing clear guidelines for  ethical and safe use of AI, the AIFC aims to attract more international companies to Kazakhstan, offering a regulatory environment that supports innovation and ensures data privacy.

At the panel session «Belt & Road Initiative: evolution and the road ahead» (06.09., 10:00 – 11:00, Al Farabi Hall), the opening of CDIC International within the AIFC jurisdiction will be announced. This regional office for Chengdu (the capital of Sichuan Province) and the Western China Financial Centre in Central Asia holds significant potential for financial cooperation between Kazakhstan and China. The primary goal of CDIC International is to facilitate increased cross-border investments between companies and investors from Sichuan Province, Chengdu City, and Central Asia.

At this session, a certificate will also be presented to TFI Securities and Futures Limited for being granted a Recognised Non-AIFC Member status. This Hong Kong-based investment company provides brokerage services for securities and futures contracts, as well as investment advisory services under the regulation of the Hong Kong Securities and Futures Commission.

At the panel session «Empowering growth: unlocking the potential of Islamic retail finance in Kazakhstan» (06.09, 15:30-16:30, Al Farabi Hall), the country report on Islamic finance, prepared by the AIFC and CSQ Law with the support of the Islamic Development Bank, will be presented. For the first time, the report includes data based on the results of an extensive market survey assessing the potential market demand for Islamic financial products among approximately 13,000 respondents. The report provides the latest updates and insights on the development of Islamic finance in Kazakhstan and serves as a guide for investors, policymakers, and stakeholders.

Dr Sami Al-Suwailem, Acting Director General of the Islamic Development Bank Institute, stated: “We are pleased to collaborate with the AIFC on this important initiative. The country report on Islamic finance in Kazakhstan offers valuable insights into the current state of the sector and future prospects. We believe that the report, along with the strategic plan policy recommendations for the development of Islamic finance presented by the AIFC, will play a crucial role in guiding policymakers, investors, and financial institutions in leveraging the full potential of Islamic finance in Kazakhstan.”

Immediately following the session, the Islamic Finance and Business Association, registered within the AIFC, will be officially launched. The Association is intended to become the leading platform for uniting professionals, entrepreneurs, scholars, and participants in Kazakhstan’s Islamic finance and business industry, as well as for developing education and enhancing financial literacy in this area. Its first members will include Alif Islamic Bank, ITS, Tayyab Finance, Harry Qelm Baabsman, Al Saqr Finance, Tansar Capital, ShariaConsulting AFC, Amanie Advisors Astana, CSQ Law Kazakhstan Branch, and Outsource Directors.

At the panel session «Applying top global VC practices to the Kazakhstani market»  (06.09., 15:30-16:30, London Hall), a memorandum of understanding between AIFC Tech Hub and White Hill Capital Ltd. will be signed, aimed at supporting innovative projects, developing startups, and strengthening Kazakhstan’s position in the international investment ecosystem. The parties will agree on jointly creating and launching a startup programme, as well as developing and implementing digital solutions to support innovative projects. White Hill Capital Ltd. will act as a consultant and venture fund, providing expert support and financial resources for these initiatives.

AIFC Innovation Hub will present Tabys Education, the educational module of the Tabys app, which will initially operate as a standalone module but is planned to be integrated into the main app later (06.09., 16:00-17:30, Hall D, С.4.3). The new app is designed to improve financial literacy among the population. Through Tabys Education, users will be able to learn the basics of finance, effective personal budget management, and the art of investing.

“We believe that financial literacy should be accessible to everyone. Tabys Education is our contribution to Kazakhstan’s future, where everyone can confidently manage their finances and grow their wealth,” said Kuanysh Dairbekov, Director of AIFC Innovation Hub.

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]