Mr. Kairat Kelimbetov, the Governor of the Astana International Financial Centre (AIFC), held meetings this week with the heads of UK Government Institutions, major investment banks and international financial organisations to brief them on the Centre’s progress.
Mr. Kelimbetov discussed with the heads of Goldman Sachs, Morgan Stanley, UBS and Boston Consulting Group the objectives of the AIFC noting that the Center is a free financial zone with a special legal regime, based on Anglo-Saxon law.
UK business leaders expressed their interest in cooperating with the AIFC in the creation of the English law-based legal framework, the attraction of investment, assets and finance management, the creation of the international arbitral centre and high skilled staff training.
During his visit, Kairat Kelimbetov also met with heads of British financial bodies, including the Institute of Directors, the European Bank for Reconstruction and Development, Green Investment Bank, PricewaterhouseCoopers, JP Morgan, London Stock Exchange and London Metal Exchange. The sides agreed to develop the relationship between the UK and the AIFC.
A forum on Astana’s growth as an International Financial Centre, hosted by White & Case LLP and organised by the Embassy of Kazakhstan, TheCityUK and the European Bank for Reconstruction and Development (EBRD) was attended by members from the international business community, investment companies and the British media. The forum saw the signing of a Memorandum of Understanding (MoU) between the AIFC, EBRD and TheCityUK on assisting Astana in the development of the AIFC. Company leaders expressed their interest in the Centre and emphasised their readiness for co-operation.
Speaking at the Forum, Kazakh Ambassador to the UK, Erzhan Kazykhanov, noted that the AIFC will aim to turn Astana into the financial hub of Central Asia and one of the top 20 financial centres in the world.
During his visit, the Governor of the Astana International Financial Centre also met with Kazakhstan students, studying at UK universities and briefed them on the objectives and tasks of the AIFC and shared plans for near future.
Note to Editors:
The creation of the Astana international financial centre was initiated by President of Kazakhstan Mr. Nursultan Nazarbayev. The centre is to be established on the high-technology premises of the EXPO 2017. The official language of the AIFC will be English.
The AIFC has been created in accordance with Plan of the Nation – the 100 concrete steps to implement the five institutional reforms of the President of Kazakhstan Mr. Nursultan Nazarbayev in order to establish a favourable financial environment to attract foreign investment into the economy of Kazakhstan. In addition to this, the AIFC is believed to focus on ensuring development and an effective management of capital market, equity and welfare of individuals, and is set to develop Islamic finance. The centre will base its development on the experience of the world’s top financial centres, such as Dubai, New-York, London, Hong-Kong and Singapore.