Photo: iStock
Renat Bekturov
29/01/2025 23:13
In Kazakhstan, we see Hungary as a trusted and valued partner, sharing a mutual commitment to growth, innovation and sustainability. I am pleased to present our Centre’s vision, recent achievements, and the promising opportunities available to Hungarian investors within our vibrant financial ecosystem.
Since its establishment in 2018, the Astana International Financial Centre (AIFC) has rapidly developed into a regional powerhouse, positioning Kazakhstan as a major hub for financial services in Central Asia. With over 3 300 registered companies from more than 80 countries, the AIFC has successfully attracted $13,2 billion in investments, with 45 per cent of this capital coming from portfolio investments and the remaining 55 per cent from direct investments by AIFC participants.
In the latest Global Financial Centres Index (GFCI 36), the AIFC rose four spots to rank 62nd globally, marking its fourth consecutive year as the leading financial centre in Eastern Europe and Central Asia.
A Legal framework that builds trust
We understand that investor confidence begins with a sound and supportive legal foundation. Our Centre offers a unique legal framework based on the principles of English common law, providing investors with the assurance of a familiar, transparent and robust legal system. This internationally aligned framework, complemented by independent AIFC bodies, ensures the protection of investments and fosters a business-friendly environment where enterprises can flourish.
Our legal institutions, such as the AIFC Court and International Arbitration Centre (IAC), are designed to offer efficient dispute resolution services, making the AIFC not only a regional but a global centre for legal excellence. These institutions provide a trusted avenue for resolving cross-border disputes, covering Kazakhstan and nine neighboring countries, thereby enhancing investor confidence and security.
World-class financial infrastructure
The AIFC is home to the Astana International Exchange (AIX), which serves as a gateway for portfolio investments and capital market development. The AIX operates on Nasdaq’s proven platform and is integrated with Euroclear and SWIFT, enabling seamless connections with global financial networks.
The AIFC’s regulatory body, the Astana Financial Services Authority (AFSA), is committed to upholding the highest international standards, a commitment recognised by global bodies such as IOSCO and FATF/EAG. AFSA’s focus on transparency and adherence to strict anti-money laundering (AML) and counter-financing of terrorism (CFT) standards has made the AIFC a beacon of trust for the international investment community.
Commitment to sustainable and green finance
In alignment with Kazakhstan’s national sustainable development goals, the AIFC has become a leader in green finance. Through our Green Finance Centre (GFC), we have pioneered green bond issuance in the region, verified 80 per cent of Kazakhstan’s green bonds and loans in 2023, and supported similar efforts in neighboring Central Asian countries. Accredited by the Climate Bonds Initiative, GFC provides investors with unique opportunities to engage in impactful environmental, social, and governance (ESG) initiatives.
The AIFC has also introduced groundbreaking financial instruments, such as the region’s first Sustainability-Linked Bond and gender bonds aimed at empowering women. Our commitment to sustainability and social impact financing aligns with global standards, providing investors with avenues to make a difference while realizing meaningful returns.
Hub for technological innovation
Through our regulatory sandbox, we have created a productive environment for fintech and digital asset innovation, supporting over 160 technology-focused companies. Blockchain industry giants such as Binance and BitFinex have established a presence here, positioning the AIFC as a leading centre for digital finance in Central Asia.
AIFC participants from Europe
The AIFC is ready to collaborate with European companies more broadly, already hosting 7 businesses from Hungary and over 150 from the EU across diverse sectors, including financial services, ICT, and manufacturing. These firms highlight the wide range of opportunities available to investors alike, spanning green finance, digital technology, infrastructure, and professional services. Our goal is to deepen these ties by fostering an environment where businesses can thrive, innovate, and grow alongside our local and international partners. The AIFC’s legal infrastructure, financial systems, and commitment to sustainability create a welcoming and future-ready environment for Hungarian investors seeking to engage with Kazakhstan and Central Asia.
The author is Governor of Astana International Financial Centre