Cover IMF Staff Country Reports
Buy Book in Print
Republic of Kazakhstan: Financial Sector Assessment Program-Technical Note on Astana International Financial Center and the Kazakhstan Financial System
Author:
International Monetary Fund. Monetary and Capital Markets Department
Search for other papers by International Monetary Fund. Monetary and Capital Markets Department in
Current site
Google Scholar Close
Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2024: Issue 313
Language:
English
Publication Date:
17 Oct 2024
DOI:
https://doi.org/10.5089/9798400291197.002
ISBN:
9798400291197
ISSN:
1934-7685
Pages:
38
Keywords:
IMF-World Bank Financial Sector Assessment Program; Kazakhstan financial system; AIFC participant; staff team of the International Monetary Fund; Kazakhstan stock exchange; Financial sector stability; Financial sector development; Capital markets; Currencies; Central Asia; Global
Download PDF (1.6 MB) Download Epub
This paper presents a Technical Note on the Astana International Financial Center and the Kazakhstan Financial System for the Kazakhstan Financial Sector Assessment Program. The Astana International Financial Center (AIFC) was launched in 2018 with the objective of establishing a leading international center for financial services in Astana, as well as to attract foreign investment and support the growth and development of Kazakhstan and the region. This note reviews the links between the AIFC and the Kazakhstan financial system, and the implications for financial stability. Infrastructure has been developed to support a wide range of financial activities in the AIFC. Financial activity in the Center remains small, limiting the immediate risks to financial stability. In general, additional policy challenges arise in cases where key financial services in a country may be provided under distinct legal and regulatory arrangements from both a “domestic” jurisdiction and a jurisdictionally-separated international financial center.
  • Collapse
  • Expand
Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund