Kazakhstani and international experts discussed commercial law and financial regulatory matters at the session titled “How to Benefit from the AIFC Law in this Challenging Time” during the Online Astana Finance Days 2020. In addition, the session was focused on opportunities provided by the AIFC law for restoring the economic activities in the market.
Among the participants of the panel session were Mr Michael Blair QC, Chairman of the AIFC Legal Advisory Council, Mrs Aigul Kenjebayeva, Kazakhstan and Central Asia Managing Partner at Dentons, Mr Michael Thomas, Member of the AIFC Legal Advisory Council, and Mr Marc Holtzman, Member of the Board of Directors of the Astana Financial Services Authority.
Also, during the Law Conference, a session devoted to the topic of new technologies in the legal industry was held. Internationally recognised experts such as Dr Mimi Zou and Mark Beer OBE, co-founders of the Deep Tech Dispute Resolution Lab at the Oxford Law Faculty, and other experts from Europe took part in this panel session.
Dr Mimi Zou noted that states should constantly work together with lawyers to develop legislation: ‘Government should work collaboratively with industry to provide an effective policy and regulatory framework’.
Another panelist, Dr Joseph Lee, Senior lecturer in law at Exeter Law School, emphasized that it is too early to talk about the exclusion of human participation in the field of law: ‘Human intervention is required. People bring empathy, morality, and ethics. I don’t know to what extent technology can replace that part’.
The speakers discussed the role of new technologies in transforming the legal industry and the obstacles that stand in the way of introducing new technologies in this area. It is worth noting that the Astana International Financial Centre Authority has been actively cooperating with the Deep Tech Dispute Resolution Lab to develop international relations with key players in the field of legal technologies.
Reference:
AIFC
In December 2015, the First President of the Republic of Kazakhstan, Nursultan Nazarbayev, signed the Constitutional Law on the establishment of the Astana International Financial Centre (AIFC). The purpose of the AIFC is to form a leading centre of financial services at an international level. For the first time in the post-Soviet space, the principles of English law were introduced, and the official language of the financial centre is English.
The AIFC’s tasks are to assist in attracting investments into 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.
The Deep Tech Dispute Resolution Lab
The Deep Tech Dispute Resolution Lab aims to be the leading interdisciplinary and multi-stakeholder global research hub in the study of new and emerging technologies in dispute resolution. The Lab brings together researchers, policymakers, and practitioners to promote knowledge transfer and incubation of cutting-edge research in this field.
https://www.law.ox.ac.uk/content/deep-tech-dispute-resolution-lab
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