Global Financial Institutions to Enhance Cooperation with AIFC

Global Financial Institutions to Enhance Cooperation with AIFC

Global financial institutions, such as the IMF, the EBRD, the Asian Development Bank, the Asian Infrastructure Development Bank and the World Bank are set to enhance cooperation with the Astana International Financial Center. These organizations are strategic partners of the AIFC.

This year, the World Bank experts will train the AIFC specialists about the basics of the financial forensics. Experts believe that this experience will be useful for cooperation with investors.     

Senior public sector management specialist of  World Bank,  Waleed Malik said that World Bank has been part of the AIFC’s dispute resolution mechanism establishment from day one. The World Bank office has been involved in the initial consultations.

“AIFC has to be positioned more regionally and globally for more investors to understand and know about its functioning,” he said.

International investors are expected to be attracted to the Astana International Financial Center by unique measures, such as tax benefits, as well as simplified monetary, visa and labor requirements.

Experts believe that the AIFC is a financial hub that will connect the Central Asian countries, the Caucasian region and Russia. 

Director of Macroeconomic Policy and Financing for Development division of UN ESCAP, Hamza Ali Malik said that UN ESCAP working with the Government of Kazakhstan on promoting infrastructural financing. The Commission is working very closely with the AIFC in order to try and promote international best practices.