Astana international financial center’s activity will help attract foreign capital to Central Asia
The Astana international financial center’s activity will help attract foreign capital to Central Asia. This was voiced by Stephen Glynn, chief executive officer of the Astana Financial Services Authority, at the investment forum in Astana. According to Stephen Glynn, applying the principles of English law will play an important role in the work of the center, which will increase the confidence of international organizations in the AIFC and ensure transparency of its activities. Today 44 different countries use the English law. According to the expert, the Kazakh government has taken necessary and right steps in this direction. The AIFC will develop not only asset management, but also promising areas of the region like FinTech, green finance and Islamic finance.
STEPHEN GLYNN, CHIEF EXECUTIVE OFFICER OF ASTANA FINANCIAL SERVICES AUTHORITY, AIFC:
- The Astana International Financial Center will be largely modeled on Dubai International Financial Center so it is a very good model, it’s been tested and I believe it works well. I expect it will work even better here in Astana simply because of the great potential and growth opportunities in Astana and in Kazakhstan and the broader region. The large populations, 17 million people in Kazakhstan and the region, we have 140 million in Russia and the Chinese to the east 1.2 billion, and we have Uzbekistan with 33 million people to the south so the populations are to support a new financial center.