The development of cashless economy was discussed at the Astana Finance Days conference

On June 28, 2022, at the international conference Astana Finance Days (AFD) the AIFC Tech Hub together with Visa, the world leader in the digital payment industry, held a panel session “Future of cash in Kazakhstan and Central Asia”.

The development of a cashless economy in the countries of Central Asia became the key topic of the panel session. The meeting was moderated by Kairat Kaliev, Deputy Chairman of the Management Board at AIFC. He shared the information about the trends in the development of cashless payments in the world and spoke about the current situation in Kazakhstan in an opening speech.

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“Holding the international conference Astana Finance Days is becoming an annual tradition and a platform for sharing of experience and knowledge not only in the fields of economics and finance but also in technology with innovation. Participation in panel discussions allows you to join the discussions and comprehensively explore the current issues”- says Kairat Kaliev.

The participants of the discussion paid special attention to digital products and solutions that stimulate the digitalization of Kazakhstan’s economy, and also talked about the barriers and incentives for these processes. One of the session speakers was Cristina Doros Vice President, Regional Manager Central Asia and Azerbaijan at Visa.

“We strive to support and stimulate the development of a cashless economy in Kazakhstan and the Central Asia, therefore we were pleased to be the general partner of Astana Finance Days, one of the largest events in the financial sector in the country. Today, Kazakhstan shows stable growth in the field of non-cash payments – according to Visa, only for the 2nd quarter of 2022, their volume increased by almost 1.5 times compared to the same period last year. All conditions have been created in the republic for the development of digital projects and the emergence of breakthrough innovative technologies,” – Cristina Doros, Vice President, Visa Regional Manager in Central Asia and Azerbaijan.

In the discussion “Future of cash in Kazakhstan and Central Asia” took part:

• Cristina Doros, Vice President, Regional Manager Central Asia and Azerbaijan at Visa,
• Galim Khusainov, Chairman of the Management Board, BCC,
• Aidos Zhumagulov, Advisor to the Chairman of the Board of Directors, Freedom Bank,
• Nariman Mukushev, Member of the Management Board, Deputy CEO, Halyk Bank,
• Aizhan Holovan, Operations Director, Simply.

Reference information:

The Astana International Financial Centre (AIFC) is an independent jurisdiction that started operations in 2018. In accordance with the Development Strategy until 2025, the key focus of the AIFC is to consolidate as a universal platform connecting the countries of the EAEU, Central Asia and the Caucasus. www.aifc.kz

The AIFC Tech Hub is a subdivision of the Astana International Financial Center (AIFC), whose task is to promote the development of the startup ecosystem, venture industry market, e-commerce, corporate innovation, and new technological areas in Kazakhstan (FinTech, GovTech, SatelliteTech, Industry 4.0., etc.). Together with international partners, The AIFC Tech Hub conducts programs to support market players, as well as facilitates the structuring of venture deals and testing of new fintech solutions within the regulatory sandbox of the AIFC jurisdiction. www.tech.aifc.kz

Visa Inc. (NYSE: V) is a global leader in digital payments. Mission Visa Inc. ‒ to connect the world through the most innovative, reliable and secure payment network, which allows consumers, businesses and the economy as a whole to develop systematically. The latest global technological network VisaNet provides reliable and secure payments around the world and can process more than 65,000 transactions per second. Visa’s focus on innovation is the catalyst for the rapid growth of connected commerce, where virtually any connected device can make payments, and thus advances the transition to a cashless future for everyone, everywhere. As the transition from analog to digital takes place, Visa is using its brand, products, experts, network and scale to transform commerce. For more information visit usa.visa.com/about-visa, www.visa.com.kz