The Astana Financial Services Authority (AFSA) and Magyar Nemzeti Bank (MNB) have signed a Memorandum of Understanding (MoU) on 24 November 2023 on the margins of the Budapest Eurasia Forum.
This significant accord marks intention of both regulators to enhance partnership aimed at fostering cross-border cooperation in financial sector, regular contacts at senior level, and exchange of information on financial markets. Both parties are committed to maintaining high standards of regulatory oversight and fostering a resilient and dynamic financial ecosystem.
Mr. Nurkhat Kushimov, Chief Executive Officer of AFSA, commented: "This agreement with Magyar Nemzeti Bank is a significant step forward in strengthening our ties and forging strategic partnership between AFSA and MNB. We aim to create an environment that supports innovation, enhances regulatory efficiency, and ensures the stability and integrity of our respective financial markets."
The signing of the MoU was preceded by the joint information session of AFSA and BAMOSZ, Association of Hungarian Fund and Asset Management Companies, one day preceding the Forum. The event was attended by 12 asset management firms of Hungary.
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 2,200 firms from 78 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/
Public Relations and Communications Division of AFSA:
+7 (717) 264 73 43; +7 7172 61-37-45 email: [email protected]