Phang Hong Lim appointed to the Board of Directors of AFSA

Phang Hong Lim has been appointed as an Independent Non-Executive Director and Chair of the Audit and Risk Committee of the Board of Directors of the Astana Financial Services Authority (AFSA), effective 23 May 2026. The corresponding decision was approved by the Governor of the Astana International Financial Centre on May 22nd, 2026. 

Angela Knight CBE, Chairperson of the AFSA Board of Directors, commented: “We are delighted to welcome Mr. Lim to the AFSA Board. His career reflects a unique combination of public- and private-sector expertise in financial sector supervision, enterprise risk management, and regional market integration. His appointment further strengthens AFSA’s international perspective and enhances the Board’s geographic diversity, particularly through his deep experience in Singapore – one of the world’s leading financial centres.” 

Phang Hong Lim is an internationally recognised practitioner in risk management and financial supervision, with over four decades of experience across global financial institutions and regulatory authorities. Mr. Lim brings significant regulatory and supervisory insights from his tenure as Director at the Monetary Authority of Singapore (MAS), where he contributed to the strengthening of Singapore’s financial supervisory framework following the Asian financial crisis. 

Mr. Lim’s extensive risk management experience, including his service as the Chief Risk Officer of CIMB Group and as Managing Director at Deutsche Bank, adds valuable insights towards more effective supervision. Mr. Lim also serves as Senior Director at Toronto Centre, where he supports capacity building for financial sector regulators and supervisors globally, which provides AFSA with valuable perspectives on modern supervisory practices, financial stability, and systemic risk oversight. 

At the same time, Mukhtar Bubeyev, Non-Executive Director of the Board and Chair of the Audit and Risk Committee, is stepping down from the Board of Directors of AFSA upon the expiration of his term.  

Angela Knight commented: “On behalf of the AFSA Board of Directors, I would like to extend our sincere gratitude to Mukhtar Bubeyev for his outstanding service and dedication. Throughout his nine-year tenure with the AIFC, Mukhtar has brought exceptional expertise, integrity, and leadership to AFSA, most recently in his role as Chair of the Audit and Risk Committee. His deep experience as a policymaker and regulatory professional has been instrumental in strengthening AFSA’s regulatory and risk management frameworks and advancing the broader AIFC ecosystem. We are grateful for his significant contributions, which have helped position AFSA as a mature and internationally recognised regulator, and we wish him every success in his future endeavours.” 

Reference: 

The Astana Financial Services Authority (AFSA) is the independent regulator of the Astana International Financial Centre (AIFC), 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. afsa.kz 

The Astana International Financial Centre (AIFC) is an independent jurisdiction where investors and businesses meet emerging opportunities of Kazakhstan and Central Asia in a transparent and sustainable environment backed by the principles of English Common Law. aifc.kz 

Public Relations and Communications Division of AFSA, [email protected]