REPRESENTATIVES OF THE HSEB PARTICIPATED IN THE OPENING OF THE AIFC

On July 5, 2018, the official opening ceremony of the Astana International Financial Centre Astana (AIFC) took place during the Astana Finance Days International Finance Conference at the "Expo" Congress Centre. The Centre, a brainchild of the President of Kazakhstan Nursultan Nazarbayev, is set to become the largest financial services provider in the EEA and Central Asia region. A key feature of AIFC is the jurisdiction of common English law, which is familiar and convenient for investors.

President of the Republic of Kazakhstan Nursultan Nazarbayev, representatives of the country's top leadership, foreign heads of state, heads of major global financial organizations participated in the opening ceremony.

The main event of the ceremony was the launch of the AIFC Exchange (Astana International Exchange, AIX). Privatization of Samruk-Kazyna assets, bonds of the Ministry of Finance of the Republic of Kazakhstan, as well as Islamic sukuk bonds will be placed on its platform by the end of 2018.

It should be noted that AIFC has a Financial Services Regulatory Committee (hereinafter - AFSA). AFSA licenses a wide range of services, including investment and asset management, private banking, fund administration and administration, custodial services, Islamic finance, and the work of representative offices. 

For the first time in the post-Soviet space a special jurisdiction with its own law based on the principles of English commercial law is introduced within the framework of AIFC keeping with the standards of the world's leading financial centers such as London, New York, Hong Kong, Singapore, Dubai. An independent court of AIFC has been established, which deals with commercial and civil disputes, as well as with the International Arbitration Center. AIX's strategic partners are the Shanghai Stock Exchange and NASDAQ.

Dean of the Higher School of Economics and Business, Doctor of Economic Sciences, acting professor Sagiyeva Rimma Kalymbekovna, lecturers of the department "Finance" Kuanova Laura Aibolovna and Kazbekova Zhanat Beketovna visited the opening ceremony of the International Financial Center Astana.