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China Construction Bank Corporation receives licence at AIFC

26 April 2019 13:19 829
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China Construction Bank Corporation receives licence at AIFC

BEIJING. KAZINFORM - China Construction Bank Corporation (CCB) received a licence to carry out financial services at the Astana International Financial Centre. CCB is authorised to carry on the banking services and capital market operations through its Astana Branch in the AIFC. CCB is second largest bank in the world by total assets and is the first fully authorised branch of a foreign bank in the AIFC, Kazinform cites press office of the Astana Financial Services Authority.

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The AFSA license was granted to CCB by Dr Kairat Kelimbetov, the AIFC Governor on the sidelines of the Second Belt and Road Forum on 25 April 2019 in Beijing.

Dr Kelimbetov said: "We welcome the CCB at the AIFC. We are keen to take advantage of our location along the New Silk Road and in particular the Belt & Road Initiative by offering an attractive regulatory environment. Due to its strategic location between Europe and China, the AIFC aspires to be a financial services hub for projects in Eurasia."

Mr Mukhtar Bubeyev, the Acting CEO of AFSA said, that AFSA is delighted to see CCB among the AIFC participants.

Mr Tian Guoli, Chairman of the CCB stated: "Kazakhstan, where the Belt and Road Initiative was first proposed, is one of the most important countries along the Silk Road. The establishment of the Astana branch is CCB's foremost pro-active response to the Initiative."

Chairman of CCB further said "Astana Branch will give full play to the advantages of CCB Group to support the bilateral trade and investment cooperation between China and Kazakhstan. The Branch will actively serve the Belt and Road Initiative by providing high standard financial services in order to facilitate interconnection and production capacity between China and Kazakhstan. Furthermore, CCB is committed to build a new financial cooperation platform between China and Central Asia in the AIFC."

It should be recalled that the Astana International Financial Centre (AIFC) was established by the initiative of the President of Kazakhstan Nursultan Nazarbayev and operates as per the Constitutional Law "On the Astana International Financial Centre" dated December 2015. The AIFC aims at attracting investment into the Kazakh economy through the establishment of an attractive and business friendly environment for financial services and capital markets, including securities, insurance, banking and Islamic finance the Republic of Kazakhstan.

China Construction Bank Corporation receives licence at AIFC 

The Astana Financial Services Authority (AFSA) is the independent regulator of the Astana International Financial Centre, a legal entity and statutory body of the Republic of Kazakhstan, 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 activities related to financial services in the AIFC. The AIFC Regulations and Rules provides for the authorization, registration, recognition and supervision of financial firms and market institutions.
www.afsa.kz

China Construction Bank (CCB) Corporation was founded in October 1954 and is headquartered in Beijing, China. The company engages in the provision of financial and banking services. CCB is one of the big four state-owned commercial banks in the People's Republic of China. The bank has approximately 15 000 domestic branches. In addition, apart from Astana Branch, it maintains overseas offices in 29 countries and regions in the world, such as Hong Kong, Singapore, Johannesburg, Tokyo, Seoul, New York City, Sydney, Luxembourg, Kuala Lumpur, etc.

 


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