AIFC recognizes the growing interest from international and local firms interested in conducting financial business in the Centre. Regulated activities that are deemed to carry the characteristics of financial business include: deal, manage, or advise in investments; provide custody, trust services, fund administration, Islamic financing, credit and money services; handle insurance intermediation, management, and contracts; conduct Islamic banking business, as well as takaful business; or operate a representative office.
Financial Businesses interested in setting up operations in AIFC are required to submit an application to AIFC’s regulatory body, the AFSA, which will consider the merits and suitability of the applicant and the category of license for which the application is made.
The Asset Management plays a distinctive role in capital markets by pooling the savings of investors and investing them strategically in financial instruments and other assets with the aim of generating returns. Investing is typically thought of as a way to increase the value of money and as a way of trying to protect the value of money against the impact of inflation over time.
AIFC welcomes new entities, as well as existing bank representatives, from all around the globe including the regions of Asia, Africa, Europe, Middle East and the Americas, to take advantage of the positive economic change in Central Asia. The market growth and globalisation of economic development demand a full range of commercial and wholesale banking services, which in turn create opportunities for expanding wealth, providing trade and export finance, as well as funding for long-term bankable projects.
In recognising the importance of effective regulation and supervision to develop sustainable insurance markets in the AIFC, AFSA has developed world-class regulation on Insurance Business. The Centre participants are able to obtain the Insurance Business Licenses in different aspects such as: monetary, legal, transport, physical and materialistic.
The Astana International Exchange was established to develop an extensive and liquid capital market in Kazakhstan and Central Asia by providing clear and favourable conditions for attracting local and foreign investors, as well as creating a platform to finance the growth of private businesses and the economy as a whole.