The Astana Financial Services Authority (AFSA) and the National Agency of Perspective Projects of the Republic of Uzbekistan (NAPP) have signed a roadmap to enhance cooperation, exchange experience and facilitate joint initiatives in the capital, crypto markets and insurance sector. AFSA and NAPP aims to support and encourage more engagement between the financial industries of AIFC and Uzbekistan and explore mutual simplified access to the regulated markets. Regulators also plans to collaborate on exploring opportunities for issuing and listing securities—including green bonds and sukuk (Islamic bonds)—as well as IPOs for Uzbek companies through the AIFC.
Within the framework of the roadmap, AFSA and NAPP agreed to strengthen cooperation in conducting joint research in the area of distributed ledger technologies as well as exchanging experience in in the operation of regulatory sandboxes and the testing of new innovative financial solutions in capital, crypto markets and insurance sector.
AFSA Chief Executive Officer Nurkhat Kushimov: “Less than a year ago we signed a Memorandum of Understanding, and I am very pleased to see that we are embarking on practical steps to make our joint vision a reality through this roadmap. This document enables to tap into the potential of both jurisdictions and bring out the best that we both can offer in capital markets, insurance and the digital assets area.”
“Interaction between regulators within the framework of the multilateral agenda is one of the important aspects in line with the agreements at the level of heads of state. Joint efforts will not only allow sharing experience and knowledge but will also create a basis for accelerated development of financial markets. The signed Roadmap is another step towards the expansion of multilateral cooperation, opening new horizons for innovation and sustainable growth in the capital market and crypto-asset turnover,” Vyacheslav Pak, First Deputy Director of NAPP, noted at the meeting.
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.
Around 3,000 firms from 82 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.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]
Скопировать ссылку