Astana Forum Discusses Linking International Islamic Finance

Astana International Financial Centre aspires to become a new global financial hub, and Islamic finance is expected to be a key part of that goal.

Regulation, digital economy, financial technologies, global investment opportunities and Islamic finance were discussed during the Astana Finance Days forum held in early July. Experts emphasised China’s support could be instrumental in the development of Islamic finance by bringing scale and critical mass to the wholesale and retail markets.

Kazakhstan has positioned itself to take advantage of China’s belt and road initiative as attempts to draw investors from Central Asia and the Islamic world.

The Astana International Financial Centre plays one of the main roles in attracting financial resources. It is positioned as a financial hub for the countries of Central Asia, the Caucasus, Eurasian Economic Union (EAEU), Middle East, Western China, Mongolia and Europe

At the core of the AIFC will be a stock exchange and a finance hub for companies doing business under an independent court system based on English common law. Businesses that relocate to the AIFC will pay lower rents and be exempt from income tax for 50 years.