Baku, Azerbaijan, Jan. 16
By Nigar Guliyeva – Trend:
The Astana International Financial Center has announced the official launch and start of registration of companies.
The AIFC is a financial hub for the countries of Central Asia, the Transcaucasian republics, the EEU, the Middle East, Western China, Mongolia and Europe.
Financial Services Regulatory Committee has begun to operate under the AIFC to license a wide range of services, including investment and asset management, private banking, fund administration and management, custodial services, Islamic finance, and others.
For the first time in the post-Soviet area, a special jurisdiction with its own right based on the principles of English commercial law and the standards of the world's leading financial centers such as London, New York, Hong Kong, Singapore, Dubai has been introduced within the AIFC framework. An independent court of the AIFC as well as the International Arbitration Center have been set up to consider commercial and civil disputes.
The AIFC's strategic partners are the Shanghai Stock Exchange and NASDAQ. Their participation in the project is expected to contribute to increasing efficiency and stability in the financial market.
The AIFC provides a single window system, a simplified mode of issuing visas, registration, obtaining work permits and other services.