AIFC Participants Get Wider Access to Kazakhstan’s Financial Market

ASTANA – The list of financial services that participants of the Astana International Financial Centre (AIFC) can provide to Kazakhstan residents has been expanded, reported the AIFC press service on Feb. 26.

Photo credit: AIFC

The National Bank, the Agency for Regulation and Development of the Financial Market and the AIFC agreed on the relevant changes and additions to the AIFC rules of currency regulation and provision of information on currency transactions on Feb. 12. The amendments and additions are effective retrospectively from Jan. 1.

The list of expanded services include the right to provide crowdfunding services as part of the management of an investment crowdfunding platform (in any currency); the right to provide services of crypto exchanges, brokerage, dealing and custody involving crypto assets as well as investment management with digital assets (in any currency), the right to provide leasing services to residents engaged in agribusiness and road infrastructure construction (in any currency) and others.

AIFC banks (including Islamic banks) were also granted the right to open correspondent accounts with Kazakhstan’s second-tier banks in both national and foreign currencies.

Get The Astana Times stories sent directly to you! Sign up via the website or subscribe to our Twitter, Facebook, Instagram, Telegram, YouTube and Tiktok!