Membership of the Astana Financial Services Authority (AFSA) in the BSCEE will allow alignment of banking regulatory framework of the Astana International Financial Centre (AIFC) with the standards of the Basel Committee in the field of regulation and supervision of the banking services market.
Agreement provides a framework for co-operation, information sharing and referrals in fintech innovations area between the AFSA and Bank of Lithuania.
WIW 2018 events in Kazakhstan have covered several regions and were focused on students and business communities
Parties agreed to promote cooperation in supervision of cross-border banking and insurance establishments in their respective jurisdictions and facilitate supervisory information sharing between the CBIRC and the AFSA
The signing ceremony took place on July 4, 2018 in the backdrop of the launch of the Astana International Financial Centre by the President of Kazakhstan Mr. Nursultan Abishevich Nazarbayev.
CGTN's Michal Bardavid is talking to Stephen Glynn, CEO of the Astana Financial Services Authority to discuss the economic potentials of Kazakhstan and how it can affect the region.
The signing ceremony was held on the side lines of the official opening of the Astana International Financial Centre.
The objective of the Statement of Cooperation is to enhance mutual understanding of the legislative, procedural and information technology frameworks for Registrar and company registration functions in the Astana International Financial Centre and the ADGM.
The waiving of the license fee is an important first step in the development of the AIFC as it will significantly reduce the cost of doing business and encourage businesses to adopt the AIFC as a centre for financial services and non-financial services activities.
AFSA has been accepted as an associate member of the International Organization of Securities Commissions (IOSCO).
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