3-5th July 2018 — Astana, Kazakhstan

3-5th July 2018

12/06/2018, 18:10

AIFC Daily: the highlights of Kazakhstan's and world's media of the day

(RU) Kazakhstan and China will strengthen cooperation in the field of finance and electronic commerce

Kazakhstan and China agreed to expand cooperation in the financial sphere, to increase the use of national currencies in trade, financing and investment. This is stated in the joint statement of the two Heads of States Nursultan Nazarbayev and Xi Jinping on June 7, 2018, the press office of the Kazakh MFA of the Republic of Kazakhstan reports.

"Two countries will continue to implement the agreement between the National Bank of Kazakhstan and the People's Bank of China on the tenge/yuan currency-swap, to introduce innovative methods of financing and guarantees, effectively use various investment platforms, combine investments and loans. In addition, the parties agreed to strengthen cooperation in the field of transboundary e-commerce, including the establishment of a mechanism for interaction in this area. It is proposed to create a new platform and model for cooperation, to stimulate conjugation of national development programs "digital economy" - specified in the statement.


(EN) Registrars of Astana Financial Services Authority and Abu Dhabi Global Markets Registration Authority have signed a Statement of Cooperation

The Statement of Cooperation has been recently signed by the Chief Executive Officer of the Astana Financial Services Authority (AFSA) Mr. Stephen Glynn and Chief Executive of the Registration Authority of Abu Dhabi Global Market (ADGM) Mr. Dhaher Bin Dhaher Al Mheiri.
The objective of the Statement of Cooperation is to work towards the attainment of the mutual understanding of the legislative, procedural and information technology frameworks in their respective jurisdictions in the area of registering companies and other legal entities.

"This Statement of Cooperation confirms our mutual intension for effective and extensive collaboration. We are confident that it will bring benefits not only to us as financial centres, but also to businesses within both jurisdictions by constant improvement of our functions and services" - Mr. Glynn said.


(RU) Timur Kulibayev: an entrepreneur in the courts must find protection and an equitable solution

"We are now working hard to eradicate this practice. An entrepreneur in courts must find protection and an equitable solution. With all legal structures, Atameken has built constructive interaction: we are actively engaged in a dialogue with the General Prosecutor's Office, with the Agency for Civil Service Affairs and Anti-Corruption. The State of Law begins with honest courts. The absence of legal nihilism is one of the foundations for the development of business in the country. In the near future, independent international financial court of the AIFC will operate, based on the principles of English law. Business has very high hopes on it. For entrepreneurs, it is very important that positive judicial practice is universal, so that the rule of law and transparency of the entire judicial system prevail in the country" - Timur Kulibayev said.

An important step was the signing of the Law on Improving the Regulation of Entrepreneurship, excluding 20 spheres of control out of 114, which duplicated each other without any efficiency and also reduced about 18,000 requirements for the verification of entrepreneurs.



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