Today during the press conference in the Government of Kazakhstan, the Governor of the Astana International Financial Centre Kairat Kelimbetov told about the main directions of the work of the Centre institutions.

 

Kairat Kelimbetov informed that a number of specialized centers will be created on the territory of the AIFC, which will regulate the activities of the organization.

“First of all, I would like to note that in order to attract direct foreign investments, for the principles and rules of English public law to begin working, it is important to create corresponding institutions. One of the most important institutions is the Committee for Regulation of Financial Services, which will regulate activities of financial organizations across our Centre,” K. Kelimbetov said.

He also noted that until the end of the year the relevant International Arbitration Centre and Independent Financial Court will be created.

“Generally that’s an unprecedented political decision of the Head of State to introduce the system of English public commercial law. I would like to say that 90% of all the world financial centers work according to the system of English public law, investors prefer to work exactly in this system,” K. Kelimbetov noted.

In addition to that, according to him, a new stock market of the AIFC will be launched until the end of the year; it will function in accordance with regulation and self-regulation which is based on the experience of leading stock markets.

“NASDAQ Stock Market will become a strategic partner of the AIFC in technological sphere. It ranks number three in the world on capitalization and is a reliable platform for the Kazakhstani stock market. Also for attracting liquidity to our markets, an agreement was concluded with other strategic partner – the Shanghai Stock Exchange,” K. Kelimbetov noted.

He also informed that the Office of Continuous Professional Training will be created to prepare the personnel for the AIFC, financial sector generally, and the International Visa Centre with the support from foreign investors.