Regulatory updates, business tools, and building investor confidence: AIFC held an event for participants

On 4 November, the Astana International Financial Centre (AIFC) held the AIFC Community: ASP in Focus event, organized for AIFC participant companies with the support of Moore Kazakhstan.

AIFC Community: ASP in Focus brought together over 80 participants and focused on the activities of companies that play a vital role in the AIFC ecosystem — licensed consultants known as Ancillary Service Providers (ASPs). These consulting firms support both prospective and current AIFC participants throughout their entire process, from company formation, through periodic reporting and notifications to the regulator, and during their operations.

Special events for AIFC participant companies are held several times a year as part of the AIFC Community initiative. The initiative aims to deliver timely updates on AIFC operations, facilitate knowledge exchange, and strengthen business relationships within the AIFC ecosystem.

The event gathered representatives of ASP companies, experts from the Astana Financial Services Authority (AFSA), the AIFC Authority, and other stakeholders. The primary goal was to discuss key issues related to regulatory compliance, reporting obligations, and the professional development of ASP companies.

Opening remarks were delivered by Baurzhan Kankin, Chief Clients Officer and Member of the AIFC Management Board, and Laura Nurgaliyeva, Registrar of Companies ·at Astana Financial Services Authority (AFSA).  Baurzhan Kankin commented: “AIFC Community events have already proven to be an effective platform for knowledge sharing and collaboration among ecosystem participants. This first meeting of 2024 focuses on ASP companies, key partners in the development of the Centre. ASP companies act as a vital link between AIFC participants and authorities, making it essential to maintain regular dialogue, communicate regulatory updates promptly, and introduce new business tools. I am confident that today’s session is another step towards building a more cohesive AIFC Сommunity.”

During the event, participants received important updates from AFSA regarding anti-money laundering (AML) compliance. The session covered AML reporting procedures, interaction with financial institutions, and alignment with AML/CFT standards under the AIFC jurisdiction. Special attention was given to the preparation of annual reports, including activity reports and ASP companies’ general obligations.

Attendees also learned about opportunities under the AIFC Investment Tax Residency Programme,  Additionally, Baurzhan Kankin, Chief Clients Officer of the AIFC Authority shared insights into new directions for client engagement at AIFC.

The session featured expert presentations, including Karakoz Kyrkynbayeva, Partner at Moore Kazakhstan, who spoke on global valuation practices and their role in strengthening investor confidence. Maksim Burak, Partner at Grata International, outlined mechanisms for structuring family offices within the AIFC and new opportunities in managing large family wealth. This knowledge will enable licensed consultants to work more effectively within the AIFC jurisdiction and gain a comprehensive understanding of the center’s strategic directions.

Karakoz Kyrkynbayeva, Partner at Moore Kazakhstan, stated the benefits of the event for the Centre’s participants: “We are part of the Moore Global international network, and it is important for us to work in jurisdictions where clear, transparent and internationally recognised rules are in place. The AIFC provides such a framework. But the Centre’s capabilities can be used not only for registering companies, but also for building partnerships and raising service quality standards. The AIFC Community is one such initiative for developing connections and gaining new experience.”

The event contributed to strengthening professional networks, increasing awareness among ASP companies about applicable regulatory requirements and new opportunities within the AIFC, and fostering a unified professional community of all centre participants. For any queries related to the AIFC jurisdiction, please contact: [email protected]

Reference:

The Astana International Financial Centre (AIFC) is a leading financial hub in the Eastern Europe and Central Asia region, designed to connect global capital with the vast opportunities of emerging markets. Positioned at the crossroads of Europe and Asia, the AIFC combines international best practices with innovative approaches to create a world-class platform for investment, business, and financial services. www.aifc.kz     

AIFC Media Relations

Ainur Issabayeva, Press secretary

Phone: +7 701 777 6558

E-mail: [email protected]