Alert: AFSA alerts the public to the regulatory status of IBF Consulting Ltd. and IBF Trust
The Astana Financial Services Authority (AFSA) wishes to alert members of the financial services community to the regulatory status of IBF Consulting Ltd. and an entity calling itself IBF Trust.
On 18 August and 5 September 2025, false statements were circulated by an individual named Kairat Bermukanov, alleging that ‘IBF Trust’—presented as an Islamic hedge fund—and a group of firms under the same name had been licensed by AFSA. These claims were published on the social media accounts @investmentbusinessfamily (Instagram), “1% | INVESTMENT BUSINESS FAMILY” channel (Instagram) and the “Investment Business Family” channel (Telegram).
AFSA confirms that this information is entirely false. IBF Trust has never been registered in the AIFC, nor has it ever held a “Providing Islamic Finance” or “Advising on Investments” licenses or any other license issued by AFSA.
Furthermore, AFSA has not received any licence applications from Mr. Bermukanov on behalf of any firm, including IBF Consulting Ltd, which was originally named “Alpha Consult Group Limited”. This private company was registered in the AIFC on 25 June 2020 (BIN 200640900278) and held a license for “Providing Consultancy Services”, which was compulsorily withdrawn on 30 September 2024. On 4 August 2025, the firm’s sole shareholder role was fully transferred to Mr. Bermukanov, and on 11 August 2025, the firm’s name was changed from “Alpha Consult Group Limited” to “IBF Consulting Ltd.” Currently, IBF Consulting Ltd. is not licensed by AFSA.
AFSA strongly encourages the public to consult its Public Register, which contains up-to-date information on all entities registered in the AIFC and firms authorised by AFSA. Checking a firm’s authorisation status before engaging with any financial services or products is essential to minimise risks, protect your security, and ensure compliance.
Reference:
The Astana Financial Services Authority (AFSA) is the independent regulator of the Astana International Financial Centre (AIFC), which is established in accordance with the Constitutional Law of the Republic of Kazakhstan “On the Astana International Financial Centre” for the purposes of regulating financial services and related activities in the AIFC. AFSA administers the AIFC Regulations and Rules and is responsible for the authorisation, registration, recognition and supervision of financial firms and market institutions in the AIFC.
Over 4,300 firms from 85 countries are registered in the AIFC. These firms provide banking, insurance, investment, professional and other services. The range of financial services offered at the AIFC is comparable to the list of services available in long-established financial centers of the world, such as London, Hong Kong, Singapore, Dubai and others. www.afsa.aifc.kz
The Astana International Financial Centre (AIFC) is an independent jurisdiction with a favourable legal and regulatory environment and a developed infrastructure for starting and doing business, attracting investment, creating jobs and developing Kazakhstan’s economy. https://aifc.kz/
Contact information:
Public Relations and Communications Division of AFSA: +7 (717) 264 73 43; +7 7172 61-37-45 email: [email protected]