In a significant step towards enhancing regulatory collaboration, Mr. Nurkhat Kushimov, Chief Executive Officer of the Astana Financial Services Authority (AFSA) and H.E. Abdullah Bin Salem Al Salmi, Executive President of the Financial Services Authority of the Sultanate of Oman (FSA) have signed a Roadmap on Enhancing Cooperation. The signing took place during the Astana Finance Days 2024, marking a new milestone in the bilateral relationship between the two financial regulators.
Formalised in an official ceremony, the Roadmap is designed to deepen cooperation and facilitate the exchange of expertise in key areas such as capital markets, asset management, and digital assets. It also aims to explore the potential for mutual access to each other’s regulated markets, fostering a closer integration of financial markets in both jurisdictions.
This agreement builds upon the Memorandum of Understanding (MoU) signed between the AFSA and the FSA in 2023. The MoU laid the groundwork for mutual cooperation and the exchange of information, and the newly signed Roadmap represents a concrete step forward in realising the objectives outlined in the MoU.
Following the signing ceremony, the two authorities engaged in an overview session on regulated markets, where they exchanged insights and perspectives on the development and regulation of financial markets. This session further underscored the commitment of both parties to learning from each other’s experiences and working together to enhance the financial landscapes of their respective jurisdictions.
AFSA Chief Executive Officer Nurkhat Kushimov: “The implementation of this Roadmap is expected to facilitate closer cooperation between the AIFC and the Sultanate of Oman, not only strengthening the development of financial markets in each jurisdiction but also contributing to the overall growth and integration of financial markets in the region.”
H.E. Abdullah Bin Salem Al Salmi, Executive President of the Financial Services Authority of the Sultanate of Oman: “The signing of this Roadmap represents a significant step forward in our collaboration with the Astana Financial Services Authority. This agreement will focus on key areas such as capital markets, digital assets, raising awareness, and organizing joint events. It is a tangible outcome of the Memorandum of Understanding signed between our authorities in 2023, and it lays a solid foundation for further cooperation. We are particularly delighted to have the opportunity to conduct meetings and discussions following the signing here in Astana, prior to the Astana Finance Days Conference.”
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 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