The Astana Financial Services Authority (AFSA) has issued the Consultation Paper № AFSA-P-CE-2022-0004 to seek suggestions on the proposed amendments to the AIFC Banking Business Framework. The proposals in the consultation paper will be of interest to current and potential AIFC participants who are interested in exercising business activities in or from the AIFC, especially in the capacity of a Credit Provider. The proposed amendments ensure effective and fair prudential regulation of Credit Providers considering their differences from Banks. Additionally, this Consultation Paper envisages provisions of captive finance activities from the AIFC, which involve subsidiaries that typically finance purchases of equipment from their parent entity.
Full content of the consultation paper may be found via these links:
https://aifc.kz/legal-framework/afsa-/
All comments should be in writing and sent to the address indicated below or by email:
Policy and Strategy Division
Astana Financial Services Authority (AFSA)
55/17 Mangilik El, building C3.2, Kazakhstan
Email: [email protected]
The deadline for providing comments is 8 August 2022
When sending your comments, please indicate in a subject line: “Consultation Paper # AFSA-P-CE-2022-0004”. You may, if relevant, identify the organisation you represent when providing your comments. The AFSA reserves the right to publish, including on its website, any comments you provide, unless you expressly request otherwise. Comments supported by reasoning and evidence will be given more weight by the AFSA.
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