Within the framework of the State visit of the President of the Republic of Kazakhstan K.K.Tokayev to the Republic of Azerbaijan, the delegation of the Astana International Financial Center headed by the Governor K.N. Kelimbetov, held a number of meetings with Azerbaijani government bodies, Delovoy Kazakhstan reports.
The delegation headed by the Governor held a meeting with the Minister of Economy M.Ch. Jabbarov and the Chairman of the Central Bank of the Republic of Azerbaijan T.T. Kazymov.
During the meetings, the Azerbaijani side was informed about the main trends in the development of the financial center, taking into account the updated economic agenda of Kazakhstan.
The parties exchanged views on the development of financial and economic cooperation between the AIFC and the financial institutions of Azerbaijan.
The AIFC is of interest as a regional platform for attracting investments and an ecosystem with regulation suitable for modern financial services. Together with the Government of the Republic of Kazakhstan, the AIFC is working on the integration of the ecosystem of the center with special economic zones, which will increase economic activity. In particular, this experience is of interest to Azerbaijani counter-partners. At the meeting with the Central Bank of the Republic of Azerbaijan, the AIFC held a presentation of opportunities and discussed the experience of regulation in independent jurisdictions and special zones, which is important for the Azerbaijani side, which is currently developing the Alat special economic zone. The very development of the "Alat" zone will strengthen trans-regional integration, which is important for Kazakh-Azerbaijani relations. The exchange of experience in the field of regulation also included discussions on the regulation of reinsurance, asset management, as well as the work of the regional regulatory sandbox — Fintech Lab. The parties discussed the possible participation of Azerbaijani financial institutions and fintech startups in the AIFC (today 2 companies in the AIFC represent the Republic of Azerbaijan). The meeting was a continuation of the regional round table with the leadership of the central banks of the region, which was held within the framework of the Astana Finance Days conference in June this year. The Central Bank and the AIFC agreed to continue working and sharing experience together with other financial regulators in the region. Baurzhan Bektemirov, Chief Economist of the Astana International Financial Center
