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President: Islamic 'green' finance to be crucial area for AIFC development

05.07.2018, 19:08 3024
President Nursultan Nazarbayev told about the current number of local international brokers on the Astana International Exchange, the exchange of Astana International Financial Centre (AIFC).

To date, there are 14 local international brokers with assets totaling $34 billion on the AIFC exchange and the figures will be rising," Nursultan Nazarbayev said at the opening of the Astana International Financial Centre.

The Head of State also added that within the AIFC, it is planned to IPO mining, oil and gas, transport, information and communication, and other national companies of Kazakhstan.

Islamic "green" finance will also become a crucial area for the development of AIFC. On its platform, this year we intend to issue Islamic securities - sukuk. We are working on issuing "green" bonds for infrastructure, investment and environmental projects. One of the vital areas of AIFC's activity is the creation of an effective environment for the development of innovative, financial technologies," added Nursultan Nazarbayev.

The Head of State said that the groundwork for testing new fintech products will be laid within AIFC.

The development of capital markets and the management of individuals' welfare are also the priorities for AIFC. Transactions for financing projects in the key sectors of our economy will be structured here," the President summarized.

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