On June 20, the first event within the AIFC Community organised for AIFC participants took place at the Astana International Financial Centre. The creation of the AIFC Community was initiated in response to the growing demand among participants for networking and experience sharing. This new format of interaction is designed to promptly provide the business community with up-to-date information about the activities of the financial centre.
The first AIFC Community Business Breakfast event brought together more than 80 attendees and was dedicated to the participating companies that play an important role in the AIFC ecosystem - licensed consultants and Ancillary Service Providers (ASPs). These companies assist potential and existing financial centre participants throughout the process, from the stage of opening a company to record-keeping.
Experts from the AIFC Authority, the AIFC Financial Services Regulatory Committee (AFSA), and the Expat Centre shared the knowledge necessary to effectively adapt to innovations in the financial centre. During live discussions, guests learned about the latest changes in the regulation of digital assets, the management of investment funds, requirements for companies with a Managing a Collective Investment Scheme license, liquidation processes, and forced exclusion from the register of companies. Participants also received practical recommendations on the procedures for authorising their activities and the AIFC visa and migration regime. Particular attention was paid to reviewing market requests from potential participants. This knowledge will enable licensed consultants to work more effectively within the AIFC jurisdiction and gain a comprehensive understanding of the strategic directions of development.
Welcoming the participants of the event, AIFC Governor Renat Bekturov noted: “The purpose of this event is to create a platform for communication and cooperation between professionals and companies from various sectors, such as consulting, investments, holdings and IT. We decided to dedicate the first event to ASP companies, given their integral role and active participation in the development of the financial centre. They are an indicator of market trends and an important link between AIFC participants and bodies. I am confident that this meeting will establish a solid foundation for the development of the AIFC Community and contribute to increasing the openness of the centre and creating a more cohesive AIFC environment.”
Togzhan Aitmukhametkyzy, Branch Director, Branch of Baker Tilly Qazaqstan Advisory LLP in AIFC:
"We are grateful for the organisation of such event, which brought together all the ancillary service providers. For ASP companies, it is very valuable to exchange experiences and hear opinions on various issues from colleagues. I particularly enjoyed the session on prudential standards related to funds, as we always have many inquiries about obtaining a license for a management company. We also learned many nuances and intricacies concerning AIFC law and its regulations."
Adil Syzdykov, Partner Ernst & Young LLP., AIFC branch: "This was my first time attending such an event by the AIFC. We found a lot of useful information, as we are an active participant in the AIFC, being an investment company and a fund. We provide essential services for the functioning of the financial centre. It is important for us to understand the operations of the centre and the trends at the regulator, AFSA. One of the sessions covered the transitional period for companies managing collective investments. We learned a lot about compliance with regulations. It is clear that the regulator is serious about ensuring compliance."
Akzhol Boranbay, Deputy SEO, Bank CenterCredit Branch in the AIFC: "I am very pleased with the new format of the AIFC event for participants, where we can learn about the latest changes in the centre's regulations. We have recently opened and received a licence in the AIFC, so networking is very important for us. I am responsible for attracting clients, and today I had the opportunity to meet my colleagues, get acquainted with other participants, and introduce our activities to them."
The business breakfast contributed to strengthening professional connections and meeting the needs of AIFC participants for information on various aspects related to the activities of the financial centre. In the future, a series of events is planned, focused on the specifics of activities and requests from AIFC participants.
For all questions related to the jurisdiction of the AIFC, please contact us by email at [email protected].
Reference:
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. www.aifc.kz
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