The Astana International Financial Centre (AIFC) has been making waves as a dominant financial hub in Central Asia, securing top positions in global rankings throughout 2023
The Astana International Financial Centre (AIFC) has solidified its dominant standing in the Central Asia and Eastern Europe region, as indicated by its high ranking in the Global Financial Centers Index. This recognition underscores its favorable legal and regulatory framework, robust business infrastructure, and its appeal for attracting investments and fostering human capital development.
Throughout the past year, the AIFC has seen substantial growth, with over 600 new entities joining, totaling more than 2,300 companies representing 78 different countries.
The Astana International Exchange (AIX) experienced remarkable expansion in its debt instruments market, witnessing the listing of 56 such instruments in 2023. The total capital raised through these listings exceeded $1.95 billion. Additionally, the AIX broadened its offerings by introducing seven equity instruments, including shares from the Kazakhstan Electricity Grid Operating Company (KEGOC). In 2023, the AIX welcomed 14 new members, comprising Kazakh and European brokers and custodians. By December 21, the trading volume on the AIX had surged to a historic high of $510 million compared to $173 million in the previous year.
Assets under management within the AIFC soared by 82%, reaching a record of $1 billion from $585 million at the start of 2023. The number of registered funds also increased from 20 to 37, with investment funds’ assets under management reaching $616 million.(Source:astanatimes)
The Development Bank of Kazakhstan made a significant move by issuing its inaugural green bonds, valued at seven billion tenge ($15.4 million), which were certified in accordance with the Climate Bonds standard. Meanwhile, on the AIFC platform, Almaty Electric Stations and the Eurasian Development Bank sealed an agreement for the reconstruction of Almaty thermal power plant-3 (CHP-3). This project involves the issuance of Central Asia's first-ever Sustainable Development Bonds (SLB), estimated at up to 236.8 billion tenge ($522 million).
