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AIFC to be among Asia’s top financial centers: Kazakh President

14 November 2018 12:49

ASTANA. KAZINFORM - The Astana International Financial Centre (AIFC) will be among the leading financial centers in Asia, announced President of Kazakhstan Nursultan Nazarbayev, Kazinform correspondent reports.

"Today we are officially launching the first trading session on the AIFC Exchange. It is very symbolic since this event is taking place in the run-up to the celebration to mark the 25th Anniversary of Tenge, our national currency. The hardest time, 1993, became the point of our financial and economic independence. From then onward, we have gone through many hardships. (...) Since then, Kazakhstan's economy has significantly grown, and the standard of living of our people has grown as well," the President said at the AIFC Stock Exchange launch ceremony.

The President maintains that the AIFC operation is a crucial, consistent and sustainable step in the development of the country.

"Last year we successfully hosted the EXPO 2017. The world community supported us. We decided to create an ambitious international financial center based at the building and premises constructed. There were doubts about it. However, those, whom I appointed to this center, and the Government have worked to the effect that we can now say that the Astana International Financial Centre will operate here," the Head of State pointed out.

Nursultan Nazarbayev underlined that the AIFC should catalyze the attraction of foreign capital and should propel the stock market to the next level of development. The Head of State reminded that the center actively uses the world's best practices, attracts leading partners and experts, and that unprecedented conditions have been created for the participants.

"Our Kazakhstani aviation will establish new aviation routes to other financial centers of the world. In the future, the AIFC should become the major financial hub of the region and be one of the leading financial centers in Asia, especially by supporting the new Silk Road that is robustly developing through our region in particular. And, all Central Asian countries can use the services of this center.

The center has already granted a new financial capital status to Astana. In the rankings of global financial centers, the city has climbed 27 positions last year alone. Astana will continue developing as a ‘smart city' that creates the most comfortable conditions for the lives of our citizens and guests of the capital," concluded the President.