We see the AIFC as a regional hub for Islamic financing, PM

ASTANA. KAZINFORM "We consider the Astana International Financial Centre (AIFC) as a fintech-stepping stone to create and develop solutions in the field of financial technologies. Such work has already been started in partnership with Mastercard and Visa, Microsoft and Tai Cloud Corp," Prime Minister of Kazakhstan Bakytzhan Sagintayev said today at Astana Finance Days.

The AIFC became a member of the R3 international consortium, which includes more than 60 major financial institutions, as well as the Global Federation of fintech-hubs.

"Astana International Financial Centre could become an effective platform for introduction of tools, mechanisms and standards of "green" financing. In the field of cleantech the AIFC already hosts the Competence Centre of green finances, as well as the International Centre for green technologies and investment projects under the auspices of the UN," Premier Sagintayev stressed.

"Another feature of the AIFC financial services is promotion of the Islamic financing market. The necessary legal and regulatory environment has already been created within the AIFC in cooperation with the Asian Development Bank and the Islamic Development Bank. By the end of this year, the public issue of Islamic securities - sukuk - will be accomplished. In the long term, we see the AIFC as a regional hub for Islamic financing," he outlined.

"Thus, the Astana International Financial Center is going to provide a fairly wide range of financial services. By all means, this is an advantage, but not the only one," Sagintayev resumed.