Astana International Financial Centre was presented to the representatives of German political and business circles

AIFC Authority

17 November 2017 00:00:00

Within the framework of the 20th Anniversary Euro Finance Week, the investment opportunities of the Republic of Kazakhstan and the Astana International Financial Centre (AIFC) were presented to representatives of German political and business circles, including the largest European banks, management companies, and key players of the global financial industry.

At the beginning of the event, Bolat Nusupov, Extraordinary and Plenipotentiary Ambassador of the Republic of Kazakhstan to the Federal Republic of Germany and Dr Klaus J. Mangold, Chairman of the Supervisory Board of Rothschild GmbH (Frankfurt) delivered welcoming speeches.

“Astana International Financial Centre (AIFC) is an effective platform and a powerful driver for expanding financial and investment cooperation between Kazakhstan and Germany. Frankfurt am Main, which is the financial metropolis of the world, links Astana and Berlin and will help realize the potential of our interaction,” B. Nusupov said.

Dr Klaus J. Mangold, Chairman of the Supervisory Board of Rothschild GmbH (Frankfurt) noted Kazakhstan's positive achievements at the international level as one of the most dynamically developing young states. He stressed that the establishment of the AIFC should give an impetus to the economic development of the country.

The Governor of the AIFC Kairat Kelimbetov in his speech noted that Euro Finance Week traditionally gathered the leaders of the European financial industry. He informed the audience about the main advantages of the AIFC, its key directions and the privileges provided for investors.

“A key feature of the AIFC will be the legal system. The AIFC Independent Courts and International Arbitration Centre will begin work in January 2018 on the basis of English common law which is familiar to investors around the world and gives them confidence. The high-tech AIFC Exchange will play a pivotal role in the development of the capital market in the region, becoming a platform for privatization of major investment-attractive companies,” K. Kelimbetov said.

The AIFC delegation also participated in one of the most prestigious congresses in the field of banking “XXVII Frankfurt European Banking Congress”, organized by the leading financial institutions of Europe, where top representatives of the banking, political and business circles discussed current challenges, risks and problems, their role in the politics and financial markets.

K. Kelimbetov held bilateral negotiations with the management of «Equinix Germany», «Frankfurt Main Finance», «BNP Paribas», and etc. The German side showed great interest in AIFC’s activities, noting its willingness to cooperate in attracting investments, managing assets and capital, training of specialists of international level, and etc.

Following the meetings and negotiations, an agreement was reached on expanding cooperation between financial centres.

Reference:

AIFC. In December 2015, the President of the Republic of Kazakhstan, Nursultan Nazarbayev, signed the Constitutional Law on the establishment of the Astana International Financial Center (AIFC). The purpose of the AIFC is to form a leading center of financial services of an international level. For the first time in the post-Soviet space, the principles of English law will be introduced: the official language of the financial center will be English.

AIFC's tasks are to assist in attracting investments in the country's economy by creating an attractive environment for investing in financial services, developing the securities market of the Republic of Kazakhstan, ensuring its integration with international capital markets. AIFC also intends to develop in the country the market of insurance, banking services and the market of Islamic financing. www.aifc.kz.

EURO Finance Week. The Euro Finance Week is one of the largest banking conferences in Europe. It features several streams covering various topics. It is organized by the dfv Maleki Group, a leading conference organizer that specializes in the field of financial communication based in Frankfurt am Main. The dfv Maleki Group’s successful history is closely related to the rise of the financial centre Frankfurt from which the company operates internationally.