Astana International Financial Centre was presented to the representatives of state and business circles of Malaysia

AIFC Authority

24 November 2017 00:00:00

The delegation of the Astana International Financial Centre (AIFC), led by the Governor Kairat Kelimbetov, presented the AIFC to representatives of state and business circles of Malaysia.

During the visit, the AIFC Governor also participated in the XIII World Islamic Economic Forum. Within its framework, K. Kelimbetov met with the Prime Minister of Malaysia – Dato' Sri Mohd Najib bin Tun Abdul Razak, the Governor of Sarawak – Tun Abdul Taib Mahmud, Chairman of WIEF Foundation – Tun Dato' Musa bin Hitam, and the Executive Director of the National Investment Fund of Malaysia Khazanah Nasional Berhad – Dato Mohd Izani bin Ghani.

The AIFC Governor informed the organizers and participants of the Forum about the main activities of AIFC, the development of the financial technologies industry, Islamic and green finance in Kazakhstan. During the negotiations, an agreement on cooperation in abovementioned areas was reached with the WIEF Secretariat.

K. Kelimbetov noted that the AIFC should become a financial hub for the countries of Central Asia, the Caucasus, the Eurasian Economic Union, the Middle East, Western China, Mongolia and Europe.

"Astana International financial centre has a number of unprecedented privileges for participants, including exemption from taxes until 2065, free movement of capital, state-of-the-art infrastructure and a special visa regime for foreigners. It is also planned to create the "Expat Centre", which will provide favourable conditions for the entry and localization of foreign employees of the AIFC and their family members," K. Kelimbetov said.

An extensive programme, compiled and organized with the assistance of the Embassy of the Republic of Kazakhstan in Malaysia, made it possible for the AIFC’s Delegation to present the newly-created financial centre to the government and business circles. In particular, K.Kelimbetov met with the top management of Green Tech Malaysia, Future Innovation Council, Malaysian Centre for Innovation and Creativity - MAGIC, and former Secretary General of the Ministry of Energy, Green Technology and Water of Malaysia and member of the Kazakh-Malaysian Business Council Datuk Loo Took Gee.

The parties discussed current development trends and the possibility of expanding cooperation in green and financial technologies.

During the meeting with the management of the Malaysian pension fund KWAP, the AIFC Governor informed the Malaysian partners about the potential for cooperation within the framework of the integrated privatization plan in Kazakhstan for 2016-2020 and the use of the opportunities of the AIFC site.

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

The World Islamic Economic Forum is held on an annual basis and is the leading platform for discussing issues of economic development of the member countries of the Organization of Islamic Cooperation. In the international community, it is also known as"Islamic Davos". The main topics of the 13th WIEF became: financial technologies in Islamic finance, education and industrial revolution, blocking technologies, renewable energy, and halal industry.