ABU DHABI. The joint delegation of the Astana International Financial Center (AIFC) and Kazakh Invest NC JSC held bilateral meetings with a number of UAE’s major financial institutions. Negotiations were held with Saif Al Shamsi, Deputy Governor of the UAE’s Central Bank, and Richard Teng, CEO of the Financial Services Regulatory Authority of ADGM, as well as with heads of the Abu Dhabi Commercial Bank (ADCB) and Al Hilal Bank.
During the meetings, the Kazakh side presented the conditions created for the AIFC participants and presented the results of its activities over the past year. The UAE partners were also provided with information on the application of English law at the AIFC, on the creation of an independent regulatory environment based on the best international experience, as well as the services of the Astana International Exchange (AIX).
Representatives of the UAE financial institutions praised the active pace of development of the AIFC's key areas, such as Islamic finance, asset management, and the stock exchange. At the same time, representatives of the UAE, noting the great potential for the development and regulation of financial technologies, announced their readiness to carefully study the ways proposed by the AIFC to develop mutually beneficial cooperation.
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