Michael Blair QC (Hon Causa) and David Simpson attended the AIFC Law Conference in Astana, Kazakhstan, this week to mark the official opening of the Astana International Financial Centre (AIFC). The AIFC is the first international financial centre to be established in Central Asia and operates within a special legal regime based on common law.
Michael is the Chairman of the AIFC Legal Advisory Council which reviewed and approved the general legal framework of the AIFC.
David was lead draftsman for the legislation that established both the Astana Financial Services Authority (AFSA) and the Astana International Exchange (AIX). AFSA is the regulator of both financial and non-financial activities in the AIFC. AIX is the first international exchange in Central Asia and is a regional platform to attract investment to Kazakhstan and the Central Asian Region linked to the Belt and Road Initiative. It will offer equity, debt and derivative instruments, funds, commodity derivatives and Islamic financial products.
Click here for an interview with the CEO of AFSA, Steve Glynn, discussing the creation of the legal framework of the AIFC.