President Tokayev receives AIFC Governor

NUR-SULTAN. KAZINFORM - President Kassym-Jomart Tokayev has received Governor of the Astana International Financial Center Kairat Kelimbetov, Kazinform reports citing the Akorda press service.

The Head of State was informed on the main results of the Astana International Financial Centre activities in developing the country's financial market, protecting the rights and interests of investors and consumers of financial services, as well as trade and investment cooperation.

Kassym-Jomart Tokayev drew attention to the need for further effective development of the AIFC within the tasks on the economic recovery and ensuring further growth after the crisis.

In this regard, President Tokayev instructed to actively use the AIFC potential to attract investments and develop the stock market in the view of the upcoming privatization of state assets, ensure access to the AIFC court and arbitration for businesses to resolve commercial disputes.

The President also highlighted the need to develop cooperation with the Ministry of Foreign Affairs and its diplomatic missions to promote the AIFC investment tax residency program.

Kairat Kelimbetov reported that the ecosystem of the Centre is fully formed, that was able to continue stable online operation during the implementation of quarantine measures. According to him, for the first time in Kazakhstan unused financial instruments were introduced at the AIFC site, including the issuance of bonds denominated in RMB, and cross-listings of sukuk, an Islamic analogue of bonds.

Following the meeting, the President Tokayev gave a number of specific instructions for the further development of the AIFC.