Kazakhstan’s regulators sign Currency Regulation and Information Exchange Rules in AIFC

The National Bank of Kazakhstan, the Agency for Regulation and Development of Financial Market of Kazakhstan and the Astana International Financial Centre (AIFC) have reached an agreement on currency regulation and AIFC Participants’ terms of access to financial market of Kazakhstan.

The Governor of the National Bank of Kazakhstan Mr. Yerbolat Dossayev, Chairperson of the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market Ms. Madina Abylkassymova and the Governor of the Astana International Financial Centre Mr. Kairat Kelimbetov have signed the relevant joint document.

The agreed framework governs the terms and procedures for foreign currency transactions in AIFC, issues governing the provision of financial services by AIFC participants and their access to the financial infrastructure of Kazakhstan.

The Rules define a list of financial services, which AIFC participants will be able to provide to Kazakhstan’s residents, including in the banking and insurance areas, as well as the securities market.

The Act takes effect on 1 December 2021.

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