AIFC Participants Get Wider Access to Kazakhstan’s Financial Market
The AIFC press service reported on February 26 that the range of financial services available to residents of Kazakhstan has been expanded for participants of the Astana International Financial Centre (AIFC).
On February 12, the National Bank, the Agency for Regulation and Development of the Financial Market, and the AIFC reached an agreement on amendments and additions to the AIFC rules of currency regulation and provision of information on currency transactions. These changes, effective retroactively from January 1, broaden the range of financial services available to residents of Kazakhstan through AIFC participants.
Among the expanded services are the provision of crowdfunding services through the management of an investment crowdfunding platform in any currency, services related to crypto assets such as crypto exchanges, brokerage, dealing, and custody, as well as investment management with digital assets in any currency. Additionally, AIFC participants now have the right to provide leasing services to residents engaged in agribusiness and road infrastructure construction, among other services.
Furthermore, AIFC banks, including Islamic banks, have been granted the authority to open correspondent accounts with Kazakhstan’s second-tier banks in both national and foreign currencies.
