AFSA jointly with global regulators launches GFIN (Global Sandbox)

The Global Financial Innovation Network (GFIN) is a newly-formed alliance of 29 financial regulators and organisations including, Financial Conduct Authority of the UK, International Monetary Fund, World Bank Group and Astana Financial Services Authority, committed to: (1) collaborate and share experience of innovation in respective markets; (2) exchange of knowledge and lessons learned in RegTech related matters; (3) provide firms with an environment to test cross-border solutions, reports the press service of the center.

Егемен Қазақстан
01.02.2019 3711

The GFIN initiative on cross border testing would allow firms to simultaneously test innovative products, services or business models in multiple jurisdictions, including Kazakhstan, United Kingdom, USA and other jurisdictions.

“We are pleased to be part of this initiative. GFIN will facilitate greater regulatory cooperation between the like-minded authorities to foster a sustainable global financial ecosystem. This network is an extension of AIFC’s commitment to further facilitate cross-border financial activities in a fair, transparent and efficient manner” – said Asylbek Davletov, Chief FinTech Officer of the AFSA.

Firms wishing to participate testing must meet the application requirements of all the jurisdictions in which they would like to test. For example, a firm wishing to test in Kazakhstan, Australia and Hong Kong must independently meet the eligibility criteria, and/or other relevant standards of the regulators of those jurisdictions.

Firms interested in applying to take part in the pilot cross border tests should review the list of participating regulators and submit an application before the 28 February 2019 deadline.

The Network has also published a Terms of Reference for the group and is encouraging other regulators and international organisations to join.

See more about the GFIN, member organisations and list of regulators supporting the pilot test.



Head of Kazakh Republican Space Communications Centre appointed


Astana to enjoy Poetry in Music concert


The first opponent of Daniyar Yeleussinov was defined in 2019


Gorka Izagirre wins Tour de la Provence after a dramatic final at stage 4


New US Ambassador to Kazakhstan: I am very happy to return to Kazakhstan again


Kazakh Senate Speaker attends Munich Security Conference


Miguel Angel Lopez wins Tour Colombia 2.1


Bakytzhan Sagintayev meets with Chairman of the Board of Eurasian Development Bank Andrey Beliyaninov


Constitutional Council announces decision on Presidential appeal


Kazakh President meets with winners and prize-winners of international sports competitions


Southern Gas Corridor can transport gas from Turkmenistan, Kazakhstan, says SOCAR


Astana’s Lopez comes in 4th in sprint at Tour Colombia 2.1. Stage 3


Askar Mamin presented new first deputy akim of Turkestan region


New deputy mayor of Astana appointed


Effectiveness of measures to ensure social well-being considered at meeting of Government Working Group


President signs decree on military discharge of conscript soldiers


Bakytzhan Sagintayev holds a meeting of State Commission for Modernization of Economy


Yeldos Ramazanov appointed vice minister of culture and sports


Nurzhan Altayev dismissed as vice minister of labor and social protection of the population


Kazakh President meets with the participants of the project "100 new faces of Kazakhstan"


Aliya Ashim, Journalist

Brazil’s version of Trump: why is it a «wake-up call» for the world?

<p style="text-align: justify;">A racist, a homophobe, a misogynist, a pro-torturer. Because of the profane outbursts and verbal abuse, he has earned such an image and was even considered as a political clown. Once he insulted lawmaker claiming that she was too ugly to be worth of raping. What is more, he said that he’d rather have a dead son than a gay one. Therefore, analysts concluded that Brazil has elected the most extremist president among democratic countries. So why did Brazil decide to make «really radical shift»? How did such an «extreme» and «unpleasant» figure become a president?<br /> </p>

Jylkybay Jagyparuly,

Mechanical engineering is a potential pillar of the economy

In industrialized countries, one of the most important indicators of the economy is the level of development of the machine-building industry. Independent Kazakhstan, striving to achieve ambitious goals, is making great efforts to develop machine building in the process of diversifying its economy.

Alisultan Kulanbay,

June 4 - Day of State Symbols of Kazakhstan

State symbols - the State Flag, State Anthem and State Emblem demonstrate to the world the independence of the Republic of Kazakhstan, also continuity between the past, the present and the future of the state.

Ainash ESALI,

Is it all good that they advertise?

Advertising is the driving force of production and business. This is an indisputable fact.

Nazira RAKHMANKYZY, Film critic

Splash of commercial films in Kazakhstan

Last year, the number of feature films which filmed reached thirty-six in Kazakhstan. We should say that it is an unprecedented figure in the history of Kazakh cinema in the last quarter century.