Astana International Finance Center (AIFC), an emerging financial hub in Central Asia and Eurasia is seeking partnership with Bombay Stock Exchange and Gujarat’s GIFT, to learn from expertise and experience of Indian entities besides enabling wider presence of Indian businesses in Eurasia and Russia.
Gautam Chikermane, Vice-President, ORF, Ambassador of Kazakhstan to India
Bulat Sarsenbayev, Nursultan Serikbay, Deputy head, Business Development Group
AIFC, Sultan Akimbekov, Director of Institute of Asian Studies, ORF fellows and
representatives of Indian academic circles discussed the following questions: What are
the global trends impacting economic development in the region? Where are the most
promising opportunities for investments in the region? What challenges need to be
overcome to realise the region’s economic potential? Is there enough funding for large
infrastructure projects, and what could be the new sources? What opportunities in the
region are of the greatest interest to investors from India?
Senior managers of AIFC presented the AIFC and opportunities it offers to
business and investors from India during the another roundtable discussion held on
April 16 at ORF in Mumbai.
Kazakhstan, with its vastness of resources and strategic considerations,
launched the AIFC in 2018 to be a financial hub for the whole region. An initiative of the
First President of Kazakhstan Nursultan Nazarbayev, the AIFC features a modern stock
exchange – AIX – whose shareholders include NASDAQ, Shanghai Stock Exchange,
Silk Road Fund and Goldman Sachs. The Centre’s main areas of activity include capital
market development, asset management, private wealth management, Islamic finance,
new financial technologies.
The principles of English law are introduced in the post-Soviet space for the first
time, and the official language of the financial center is English.
The AIFC established a regulatory regime that follows international standards
(IOSCO, Basel, IAIS, FATF, etc.) to ensure fairness, transparency and efficiency of the
financial market, protect the interests of investors and customers of financial services,
and minimize systemic risk.
The International Arbitration Center (IAC) provides an independent, cost-effective
and operational alternative to litigation, acting in accordance with the best international
standards for resolving civil and commercial disputes in the AIFC.
A large-scale privatization program in Kazakhstan opens up great opportunities
for global investors.
The Astana International Exchange will become the main platform for the
privatization of national companies in the framework of the implementation of the
Comprehensive Privatization Plan for 2016-2020.
More than 150 companies from 18 countries are already represented in AIFC.
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