Посты с тэгом: AFSA

The Astana International Financial Centre co-hosted two panel sessions at the Astana International Forum, held in Kazakhstan’s capital on 29-30 May. The discussions centred on digital assets and sustainable development finance, convening representatives from government agencies, international organisations, and the private sector to examine the key trends influencing the financial landscape. 

Renat Bekturov, Governor of the Astana International Financial Centre, said: “The Astana International Forum has firmly established itself as a high-level platform where heads of state and government, international experts, and business leaders convene to discuss global challenges and prospects for development across politics, economics, and finance. Within the forum, the AIFC organised sessions focused on critical contemporary financial topics – digital assets, which are increasingly embedded in our daily lives and reshaping the economy, and sustainable development financing aimed at achieving targets to reduce humanity’s environmental impact.”  

The first session, titled “Digital Asset Revolution: Astana on the Global Map of Digital Finance”, was led by Evgeniya Bogdanova, Chief Executive Officer of the Astana Financial Services Authority (AFSA).  

Evgeniya Bogdanova, CEO of AFSA: “ Kazakhstan is taking significant steps to establish itself as a regional leader in the digital assets sector. This journey began in 2019 with the launch of the AIFC FinTech Sandbox and the introduction of an experimental regulatory regime within the AIFC. In 2022, the AIFC, together with national regulators, launched a joint pilot project for crypto-fiat gateways involving 6 cryptocurrency exchanges, 8 banks and almost 50 thousand users – a project that proved highly successful. Today, the AIFC operates as a fully developed ecosystem, home to licensed crypto platforms such as Binance, Bybit, Bitfinex, and other digital asset service providers. In the first quarter of this year alone, total trading volume reached USD 1.7 billion.”  

At the session, Zhaslan Madiyev, Minister of Digital Development, Innovations and Aerospace Industry of the Republic of Kazakhstan; Lily Liu, President of the Solana Foundation; Binur Zhalenov, Chief Digital Officer and Advisor to the Governor at the National Bank of Kazakhstan; Nurkhat Kushimov, General Manager of Binance Kazakhstan; and Sanzhar Suleimanov, Vice President and Regional Director for Central Asia at VISA, discussed how digital assets are reshaping the financial landscape. 

The rapid adoption of digital assets is already creating not only new opportunities, but also challenges for financial systems and the broader economy. In this context, the speakers explored the evolution of digital currencies – from cryptocurrencies and tokens to central bank digital currencies (CBDCs) – and their potential impact on monetary policy. 

The discussion also highlighted Kazakhstan and the AIFC’s unique position within the global digital asset regulatory landscape, the potential of blockchain-based services to streamline cross-border payments and settlements, the implications of central bank digital currencies (CBDCs) for traditional monetary policy and the role of central banks, as well as the growing popularity of digital assets as investment instruments both in Kazakhstan and globally. 

Nurkhat Kushimov, General Manager, Binance Kazakhstan: “We chose the AIFC as our jurisdiction because Kazakhstan is a strategically important market for Binance. It is especially valuable when a jurisdiction offers transparent, adequate, and well-balanced regulation. Moreover, as a company, we see it as our responsibility to operate in such environments – to share technology, invest in infrastructure and human capital, and support the development of local teams”. 

Lily Liu, President of the Solana Foundation, said: “As an industry, the crypto sector must continue investing in talent development and capital formation. These have always been the foundational elements in building an ecosystem like Solana – consistently attracting developers and builders, and providing them with the necessary resources and expertise. (…) We are particularly committed to this in Kazakhstan, as the country stands out as one of the leading talent ecosystems in the region”.  

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 3,800 firms from 85 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]

AFSA informs about its plans to undertake reviews of important regulatory frameworks throughout 2025.

AFSA continues its work on enhancing the securitisation[1] framework, building on the proposed amendments initiated last year, which require further review. The proposed changes relate to the structuring and operation of “orphan” Special Purpose Companies (SPCs)[2], the pool of beneficiaries and the administration of SPCs.

AFSA is currently developing proposals within its review of frameworks in the capital markets, digital assets, and crowdfunding sectors, with public consultations expected to commence in mid-2025:

• Capital markets. The focus is on reviewing the regulation related to the offering, listing and trading of securities, while also considering additional amendments to improve access for market participants.
• Digital assets. Further enhancements to the digital assets regulatory framework are being considered, drawing on feedback and regulatory experience since the framework’s introduction in 2024.
• Revising the crowdfunding regulatory framework to strengthen investor protection through enhanced disclosure requirements on default histories and other improvements.

Later in the year, AFSA also anticipates commencing work on additional framework revisions in the fund management, Islamic finance, and insurance sectors. Further details will be communicated as the projects advance.

Stakeholders wishing to contribute early proposals in advance of public consultation within the above frameworks are encouraged to send them to [email protected]. AFSA will take these contributions into account during the drafting process.

AFSA notes that these projects represent our current regulatory agenda, reflecting initial plans and tentative scope, which may be subject to revision as we progress through the year.

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 3,800 firms from 85 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]

[1] The securitisation is a structured finance transaction whereby banks and other credit institutions package loans into securities.

[2] In general, a Special Purpose Company (SPC) is a legal entity that is created by a parent company (Initiator/originator) for a limited purpose: often to be a participant in a securitisation transaction with a pre-arranged counterparty. Depending on the Initiator/originator’s purposes, the ownership of an SPC could be structured through a direct shareholding, where shares of the SPC are held by its parent company directly, so the SPC will be a wholly owned subsidiary of a parent company; or an “orphan”, where the SPC is owned by an unconnected third party that has control over the SPC, so the SPC is legally separated from its originator.

Astana —The Asian Infrastructure Investment Bank (AIIB) hosted a panel discussion on “Mobilizing Finance for Sustainable Infrastructure” on April 29 at the Astana International Financial Centre (AIFC) as part of a series of lead-up events for the tenth Annual Meeting of the AIIB Board of Governors, to be held on June 24-26, 2025 in Beijing.

The discussion, led by AIIB in collaboration with Kazakhstan’s Ministry of National Economy and Ministry of Transport and key financial market participants, focused on enhancing investment in resilient infrastructure and green projects within Kazakhstan. It explored how AIIB can strengthen its presence and investment activities in Kazakhstan and Central Asia, especially by helping attract private capital into sustainable infrastructure projects.

Speakers and panelists highlighted how AIIB and other multilateral development banks, commercial banks and asset managers can work together to foster sustainable and inclusive growth through infrastructure and green financing. These partnerships bring in both expertise and financing, ensuring projects are not only economically viable but also aligned with broader sustainability goals. Another focus of the event was the ESG standards and how they are becoming essential for responsible investment in infrastructure.

The opening remarks were delivered by Mr. Konstantin Limitovskiy (AIIB), Mr. Satzhan Ablaliyev, (Ministry of Transport of Kazakhstan) and Ms. Evgenia Bogdanova (AFSA). Key participants of the event included Ms. Saadat Asanseitova, Director of International Economic Cooperation at the Kazakhstan Ministry of National Economy; Ms. Zamira Sundetova, CEO of Skybridge Invest; Mr. Wang Xianming, Senior Executive Officer of China Construction Bank, AIFC branch; and other senior representatives.

“As a multilateral development bank, AIIB is uniquely positioned to help bridge the gap between public sector priorities and private sector expertise in Kazakhstan. This approach enables us to drive infrastructure investments that are critical for the country’s sustainable economic growth,” said Konstantin Limitovskiy, AIIB Chief Investment Officer, Public Sector (Region 2) & Project and Corporate Finance (Global) Clients. “Kazakhstan is already accelerating infrastructure and green investments, supported by proactive government policies and a dynamic private sector.”

“The Government of Kazakhstan has made sustainable infrastructure and clean energy central pillars of our national development strategy,” said Satzhan Ablaliyev, Vice Minister of Transport. “We greatly value AIIB’s continued support in mobilizing the capital and expertise needed to realize this vision.”

“Infrastructure isn’t just about building; it’s about enabling opportunity. The infrastructure of the future must be adaptable and offer long-term value, requiring innovative financing and conditions that reward sustainability. At AFSA, we are committed to enabling this transition. Our regulatory framework is designed to support a stable, transparent, and innovative financial environment. We recognize that responsible finance and investor confidence go hand in hand. That is why we continue to strengthen our supervisory approach, enhance market integrity, and create space for new financial products—particularly those linked to sustainability and climate resilience,” said Evgeniya Bogdanova, AFSA Chief Executive Officer.

As a founding member of AIIB, Kazakhstan played an important role in the Bank’s establishment, including hosting the Chief Negotiators’ Meeting in Almaty in March 2015. To date, AIIB has seven projects in Kazakhstan with a total value of over USD2 billion. Its projects are in various sectors, including transport, energy and healthcare. Key projects include helping finance the Zhanatas 100MW, Shokpar 100MW and 220MW Akmolar wind power plants, and the reconstruction of M-32 Highway (Aktobe-Karabutak-Ulgaisyn Section) as well as the Jezkazgan-Karagandy section of Trans-Caspian international transport route.

The AIIB Tenth Annual Meeting will take place on June 24-26, 2025, in Beijing under a theme “Connecting for Development, Collaborating for Prosperity”. For more details and registration information, visit https://2025am.aiib.org.

For reference:

About AIIB 

The Asian Infrastructure Investment Bank is a multilateral development bank dedicated to financing “infrastructure for tomorrow,” with sustainability at its core. AIIB began operations in 2016, now has 110 approved members worldwide, is capitalized at USD100 billion, and is AAA-rated by major international credit rating agencies. AIIB collaborates with partners to mobilize capital and invest in infrastructure and other productive sectors that foster sustainable economic development and enhance regional connectivity. 

About AFSA

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 3,800 firms from 85 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

About AIFC

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/ 

We would like to draw your attention to the following important matter regarding the conduct of any registration, licensing, supervisory, enforcement, or disciplinary action by the Astana Financial Services Authority (the “AFSA”).

Please be aware that AFSA does not offer, endorse, or permit any form of “fast-track,” accelerated, or preferential treatment services in relation to any AFSA decision including, but not limited to, the review, processing, or approval of the following applications:

• registration of a legal entity;
• licensing of Authorised Persons and Ancillary Service Providers;
• post-licensing approvals, including appointments of Approved Individuals, Principal Representatives, Controllers, and similar roles;
• waivers and modifications of the legal and regulatory requirements; or
• any other regulatory or enforcement decision-making process under the AIFC Acts.

All requests and applications are assessed in accordance with established regulatory procedures, and on the basis of their merits, completeness, accuracy, and compliance with the applicable legal and regulatory requirements specified in the AIFC Acts. The review process is conducted independently and impartially by authorised officials only.

If any individual or third-party service provider claims to have the ability to accelerate or influence the outcome of your request or application in exchange for payment or other benefits, such claims are false and fraudulent. This may include but is not limited to:

• Offers to “fast-track” your request or application;
• Claims of having special influence over, or privileged access to, decision-makers at AFSA; and
• Assurances of guaranteed or expedited approval.

We urge all applicants to be vigilant and cautious. Engaging with such individuals or entities may expose you to fraud, corruption, financial loss, reputational damage, or other serious risks.

We would like to remind you that the list of authorised Ancillary Service Providers is available on the AFSA website. You can access the official Public Register here: https://publicreg.myafsa.com/ancillary/.

AFSA’s official fees and charges for registration and authorisation are published in the AIFC Fees Rules available at the following link: https://orderly.myafsa.com/articles/feesrules.

Before submitting your applications, you may contact the Participant Support & Sales team of the AIFC Authority, who are at hand to support and guide organisations through the processes of authorisation and registration. They can be reached at [email protected] or by phone at +7 7172 959 000.

If you are approached by anyone offering services mentioned above — or if you believe you may have been a victim of such a scheme — please notify us immediately by submitting a complaint through our website: https://afsa.aifc.kz/afsa-hotline-services/ or  https://afsa.aifc.kz/consumers/complaints/. Any such report will be treated confidentially.

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 3,700 firms from 85 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]