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the region called the “FinTech Lab”, which enables firms to test new products and services in a safe environment without being immediately subject to standard regulatory requirements and allows AFSA to adopt regulatory approaches to keep up with innovation and build legislative frameworks tailored to the market needs. As of August 2020, the FinTech Lab has received more than 120 inquiries for testing and has supported 23 FinTech firms offering services in the field of digital banking, payments, operations with digital assets, crowdfunding, robo-advisory and other.
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system has provoked fierce criticism. The
International Arbitration Centre, on the other hand, offers an alternative to court litigation and offers arbitration, mediation, and other dispute resolution methods. It shall review disputes which the parties have agreed shall be settled by arbitration. The
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As part of developing its FinTech pillar, AIFC supports innovative companies through acceleration, incubation, mentoring programs and flexible regulation suitable for both start-up and incumbent FinTech firms. For these purposes in May 2017, AFSA has introduced the first regulatory sandbox regime in
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announced the “100 Concrete Steps” Plan of the Nation to implement the five institutional reforms, designed to provide a strong national platform needed to achieve country's ambition of joining the top 30 developed countries by 2050. As part of the Plan of the Nation, the AIFC was established with a
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The AIFC has partnered with NASDAQ and the
Shanghai Stock Exchange. The AIFC is the shareholder of the Astana International Exchange (AIX) that was established in 2017. AIX's first trading session was held on November 14, 2018, coinciding with the 25th anniversary of tenge, the national currency of
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AIFC Bureau for
Continuing Professional Development is responsible for human capital development and plans to retrain over 2000+ specialists in the financial industry of Kazakhstan and, ultimately, creating critical mass of professionals for AIFC eco-system and beyond. In addition, the Bureau is
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The AIFC signed an agreement with London-based global communications company OneWeb in
January 2020 to accelerate broadband connectivity in Kazakhstan. The partnership was established as part of the Digital Kazakhstan program to promote digitization in the country. The agreement stipulated that
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court system for the resolution of civil and commercial disputes within the AIFC. It exclusively oversees all legal matters stemming from the AIFC and its activities, as well as other disputes where all involved parties expressly consent in writing to the jurisdiction of the AIFC Court. Inside
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On May 12, 2020, the AIFC established the
Advisory Council on the Development of Legal Technology, which comprises experts from the UK, US, Netherlands, Kazakhstan, Russia, China, Singapore, and Switzerland. The main goal of the council is to create a vibrant and sustainable legal technology
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The Astana
International Exchange (AIX) was established in 2017 as part of the AIFC. develop the public equity and debt capital markets in Kazakhstan and Central Asian region. AIX was created to develop the public equity and debt capital markets in Kazakhstan and Central Asian region. AIX is
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It is a supreme authority that includes high-profile leaders of global financial corporations and is chaired by the
President of Kazakhstan. The main objectives of the Management Council include the determination of the strategic directions for the AIFC development and the assistance in the
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26 firms from 11 states were accepted to the
Fintech Lab, focused on different types of financial services such as payments, mobile banking, digital assets, crowdfunding and other solutions. In two years, AIFC Fintech Hub's accelerator programs supported more than 120 startups.
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The Astana
International Financial Centre plays one of the main roles in attracting financial resources. It is positioned as a financial hub for the countries of Central Asia, the Caucasus, Eurasian Economic Union (EAEU), Middle East, Western China, Mongolia and Europe.
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Astana Hub - International IT and startup hub is a business incubator in
Kazakhstan that provides support for new and start-up IT projects. The Astana Hub was launched on November 6, 2018, in the Kazakh capital by President of Kazakhstan Nursultan Nazarabyev.
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The center uses renewable energy. The AIFC provides structural framework for the advancement of green finance. To that end, the centre launched the AIFC Green Finance Centre to develop and promote green finance in Kazakhstan and neighboring countries.
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The AIFC creates competence centres at Kazakhstan's major universities to improve investment literacy and help students develop skills in finance, investment and other industries. Eight platforms have already been established at Almaty universities.
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visited the Astana International Financial Centre (AIFC) in March 2021. During the visit, Tokayev and Japrov were briefed on activities of different agencies in the AIFC and also attended a presentation of the e-Justice electronic filing system.
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OneWeb would engage local telecom operators among its distribution partners to provide universal, high-speed, fibre-like broadband connectivity across the private and public sector, including businesses, schools, hospitals and civil services.
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The AIFC supports the development of information technologies in Kazakhstan. An important organization that helps achieve this is Astana Hub. Even though it is independent from the AIFC, it has shared functions in the tech field.
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The number of companies working with the AIFC reached 2700 in 2024. The companies are from 78 countries. In the first half of 2020, the AIFC registered 122 new companies, 70 of which were registered during the lockdown caused by
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The AIFC Authority was established on 28 December 2015 and is responsible for the development of the overall strategic plan, promotion of the AIFC in the global markets, attraction of the potential participants to the AIFC.
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The Constitutional Statute "On the Astana International Financial Centre" approved on 7 December 2015 provides a legal framework for the functioning of the AIFC as well as a favourable environment for its participants.
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regulated by the Astana Financial Services Authority, an independent regulator established within the AIFC. AIX shareholders include the AIFC, Goldman Sachs GS, the Shanghai stock exchange, and China's
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responsible for investment and financial literacy programs related to AIFC's core pillars including Islamic Finance, Fintech, Capital Markets, Green Finance, as well as Asset and Wealth Management.
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development of the favourable conditions for the formation of a leading financial centre. AIFC Development strategy was determined by the Management Council during its first meeting on 26 May 2016.
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182:. As of 2022, the number of enterprises working with the AIFC increased to 1046 companies from more than 35 countries. These companies include financial institutions such as the
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opening ceremony of the AIFC International Arbitration Centre (IAC) was held in July 2019 during the Astana Finance Days conference in Astana (then known as Nur-Sultan).
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706:"Perspectives of the Court of the Astana International Financial Centre: Potential to Transform the Central Asian Legal Landscape"
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It is the goal that the AIFC become a regional financial centre and be a top 20 leading Asian financial centres within 10 years.
616:"The first meeting of the Management Council of Astana International Financial Centre was held in Astana | Invest In Kazakhstan"
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ecosystem that can improve the efficiency and quality of legal services and make them more accessible.
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The Belt and Road City: Geopolitics, Urbanization, and China's Search for a New International Order
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580:"AIFC Continues Work Through Lockdown, Simplifies Access to Financing For Companies"
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537:"Astana International Financial Centre to Cement Capital's Place in Global Finance"
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562:"Nur-Sultan's financial hub to be at heart of Kazakhstan's recovery and greening"
447:"Number of foreign companies in Kazakhstan increases 25 percent in the past year"
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687:"Kazakhstan's Futuristic Finance Center Becomes Breeding Ground For New Fintech"
666:"Kazakhstan's Futuristic Finance Center Becomes Breeding Ground For New Fintech"
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Kazakhstan. The session was opened by Kazakh President Nursultan Nazarbayev.
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March 2021, Assel Satubaldina in Central Asia on 4 (2021-03-04).
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The Astana International Financial Center is a major part of the
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864:"AIFC opens competence centres at major Kazakh universities"
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598:"AIFC yearly report indicates key achievements, projects"
416:"Central Asian global financial hub AIFC opens in Astana"
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Kazakhstan, the establishment of a common law court in a
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English is the official language on the AIFC territory.
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On 20 May 2015, the President of Republic of Kazakhstan
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513:"Embassy of Kazakhstan in the UK / 100 Concrete Steps"
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879:"Presidents Tokayev and Japarov Visit AIFC Together"
771:"Kazakh President opens AIX's first trading session"
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AIFC Bureau for Continuing Professionals Development
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430:"Constitutional Law "On the AIFC" dated 7 Dec 2015"
226:. Nasdaq NDAQ is behind the AIX trading platform.
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828:"Legal Technology Boosts Business in Kazakhstan"
789:"Kazakhstan Leads Central Asia in Green Finance"
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248:AIFC Court and International Arbitration Centre
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184:China Construction Bank
156:Shanghai Stock Exchange
37:51.091250°N 71.412806°E
330:Information Technology
188:China Development Bank
126:is a financial hub in
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517:www.kazembassy.org.uk
473:Yale University Press
373:and Kyrgyz President
371:Kassym-Jomart Tokayev
418:. Business Standard.
167:Nursultan Nazarbayev
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630:2017-05-02
522:2017-05-02
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382:References
270:common law
132:Kazakhstan
102:Key people
793:Bloomberg
726:2194-6078
275:civil law
266:Singapore
897:cite web
712:: 1–20.
566:Euractiv
291:Language
158:and the
75:Industry
304:Finance
146:History
111:Website
85:Founded
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691:Forbes
670:Forbes
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128:Astana
495:JSTOR
433:(PDF)
262:Qatar
258:Dubai
903:link
722:ISSN
548:2016
485:ISBN
264:and
122:The
88:2018
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