International Financial Center in Kazakhstan

Creating an International Financial Center in Kazakhstan is a timely and justified decision believes Sotiris Petropoulos who is an Assistant Professor of Regional Integration at the University of the Peloponnese. He says that nowadays when globalization creates conditions for a multipolar world, including the economic world, it is very important that each region has its own large financial market. This could be the Astana International Financial Center for Central Asia.

SOTIRIS PETROPOULOS, ASSISTANT PROFESSOR OF REGIONAL INTEGRATION, UNIVERSITY OF PELOPONNESE IN GREECE:

 - Kazakhstan and Astana have a head start in the financial market in the region. All these new rules and the context that has been applied in order for the financial market to be created is covering all that is needed to attract global attention.

The expert highly evaluated the AIFC’s initiatives to promote alternative financial instruments. He states that Islamic financing, cryptocurrency and green bonds are necessary for the centre which is planning to join regional and global financial markets.

SOTIRIS PETROPOULOS, ASSISTANT PROFESSOR OF REGIONAL INTEGRATION, UNIVERSITY OF PELOPONNESE IN GREECE:

 - Islamic banking, on the other hand, is getting much attention. It is not yet that someone can say that it dominates the market but based on the fact that the AIFC should focus originally on regions that are not covered by usual Anglo-Saxon western financial markets, it is also something that I believe has very strong prospects.

The expert sees great prospects in the cryptocurrency market. He says that the AIFC’s intention to develop blockchain technologies indicates the centre’s readiness to be up to date and understand current financial trends.