AIFC’S PERFORMANCE BY NUMBERS
The creation of the Astana International Financial Centre is one of the key steps of the Plan of the Nation of First President of the country Elbasy Nursultan Nazarbayev 100 concrete steps (steps 24, 70, 71, 72) aimed at diversifying the economy and developing financial industry. Strategy2050.kz presents some AIFC’s performance following the results of 2019.
AIFC Jurisdiction based on the principles, norms and precedents of the law of England and Wales (Common Law);
6 pillars of the AIFC: Capital Markets, Asset Management, Private banking, FinTech, Islamic Finance, Green Finance;
In 2019, the AIFC became a hub for more than 350 companies from 35 countries;
AIFC ranks 1st place among the financial centres of Eastern Europe and Central Asia, ahead of Istanbul, Warsaw, Budapest, Moscow and Baku;
51st out of 104 in the prestigious Global Financial Centres Index (GFCI’26);
The AIFC Court and International Arbitration Centre became the 1st in Central Asia region launch the eJustice filing system;
In 2019, the AIFC was named Overall BRI project or initiative of the year according to the authoritative global publication ASIAMONEY;
The AIFC court and the IAC signed 17 memoranda of cooperation with leading dispute resolution centres in Eurasia, Asia and Europe;
The reservations of the AIFC Court and IAC have been included in over 1300 contracts as the preferred forum for dispute resolution;
AIFC Court employs 12 justices, the International Arbitration Centre 37 arbitrators;
About 30 types of financial and market activities, as well as 5 types of auxiliary activities can carried out at the AIFC.
AIFC creates an innovative environment for financial activities
The Astana Financial Services Authority launched a specialized regulatory environment FinTech Laboratory to test new financial services and technologies. In FinTech Laboratory, 18 companies are licensed to provide various types of activities, including: digital asset management, crowdfunding, automated investment management (Robo advisory), Islamic finance, factoring;
AIFC participating companies have already made investments in various projects of Kazakhstan in the amount of more than 130 million US dollars;
The Astana International Exchange received the status of a recognized stock exchange from the HM Revenue and Customs of the UK, becoming the only exchange with this status in the CIS and Central Asia;
Polymetal listing of the first foreign issuer at the AIX;
About $ 216 million of equity capital was raised at the AIX this is several times more than the equity capital raised on the Kazakhstan stock market over the past three years;
AIFC operates on a Single Window Principle.
AIFC Expat Centre has no analogues among CIS countries
AIFC Expat Centre renders over 5,700 services. More than 10 thousand specialists trained in International Certification Programs by the AIFC Bureau of Continuing Professional Development;
Over 400 grants awarded to candidates who have successfully completed training;
47 teachers from 9 universities were trained on the use of the Eikon terminal with the aim of further cascading training of employees and students;
In 2019, 2642 professionals were retrained on the basis of the Bureau;
More than 100 start ups based at the Fintech Hub AIFC that hosted the regional stage of Visa Everywhere Initiative;
More than 50 technology, ICT and fintech companies are registered in the AIFC jurisdiction;
AIFC became an official business partner with the Centre for the Fourth Industrial Revolution of the World Economic Forum (WEF C4IR);
The report Overview of the Financial Sector in the Region, prepared by the AIFC in partnership with the audit companies Deloitte, KPMG, and PwC, is presented;
AIFC Law Pro Bono Office organizes bi weekly pro bono sessions free of charge;
AIFC volunteer law firms participants conducted 10 bono sessions, providing more than 50 clients with free legal aid.
Adherence to international standards
AIFC acts in the field of financial services regulation are developed on the basis of the best international standards and principles established by international organizations:
International Organization of Securities Commissions (IOSCO),
Basel Committee on Banking Supervision (BCBS),
International Association of Insurance Supervisory Authorities (IAIS),
Islamic Financial Services Council (IFSB),
Organization of accounting and audit of Islamic financial institutions (AAOIFI),
International Financial Consumer Protection Organisation (FinCoNet).
Astana Financial Services Authority organized International Investor Week in 6 cities of Kazakhstan under the auspices of IOSCO;
The International Investors Week is attended by financial regulators from 80 countries on 6 continents;
8 AIFC employees entered the Presidential Youth Personnel Reserve;
2 AIFC employees showed the highest scores in the selection process for the Presidential Youth Personnel Reserve.
Source: Kazakhtan 2050