Authorisation Process

Authorisation in the context of FinTech Lab refers to obtaining a “sandbox” licence that grants temporary relief from certain capital, IT-infrastructure, and reporting requirements. As a result, companies are permitted to develop and test their fintech solutions in AFSA’s controlled environment before proceeding to full-scale operations under full authorisation and supervisory regime.

General sandbox authorisation requirements are set out in the link below:
– AFSA – Astana Financial Services Authority » Authorisation

Under rule 2.5.3 (d) of AIFC Financial Technology Rules upon revocation, withdrawal or expiration of the FinTech Lab Licence the FinTech Lab Participants must immediately implement its exit strategy. The AFSA has developed Exit Strategy template for FinTech Lab Participants (Exit Strategy template). It outlines an approach for the structured termination of the Participants activities within the FinTech Lab. At the Application stage of the authorisation process, Applicants are required to sign the Exit Strategy template. You can find the Exit Strategy template at the link provided below:

Exit Strategy template for the FinTech Lab Participants