On November 10, the National Bank of the Republic of Kazakhstan, the Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan and the Astana International Financial Center (AIFC) agreed on currency regulation and conditions of access of AIFC participants to the financial market of Kazakhstan:1
The rules define the list of financial services that AIFC participants will be able to provide to residents of Kazakhstan, including in the banking and insurance sectors, as well as in the securities market:
- Banking and payment services: credit facility, Islamic banking and others;
- Insurance: voluntary insurance, reinsurance activities, new types of insurance of specific risks (catastrophe risks, terrorism-related risks, political, climate, cyber risks);
- Investment services: investment banking services, dealer activity, brokerage services, custodial services, investment management (including investment funds), trust services.
These Rules are effective from December 1, 2021.
1 Rules on currency regulation and provision of information on currency transactions in the AIFC No. 6 dated November 10, 2021.