The government of Kazakhstan officially opened the International Financial Center «Astana» (IFCA) today in the capital. Its press service reported.
The center will expectedly attract international investors to finance large-scale infrastructure projects. IFCA will be regulated by the laws of England and the international arbitration that is a precedent for both Kazakhstan and the region.
After the signing of the Memorandum of Understanding between IFCA and the European Bank for Reconstruction and Development (EBRD) in 2016, the bank supported the introduction of green financing within the framework of IFCA and helped to revise the exchange rules for the International Stock Exchange of Astana (ISEA). In particular, these rules will dictate the conditions for the creation and functioning of the ISEA, establish the fundamental principles of market transactions and the rules of trading on the stock exchange.
«I am confident that the development of IFCA will help to create a competitive, efficient and transparent financial market in Kazakhstan, Central Asia and the whole region,» said Natalia Khanjenkova, EBRD Managing Director for Central Asia.