Astana International Financial Centre and Casablanca Finance City Authority agreed to develop Green and Islamic financial services industry and mutual support each other in promoting on Africa and CIS markets

29.09.2017

September 29, 2017                                                                       Casablanca

 

Astana International Financial Centre and Casablanca Finance City Authority signed a Memorandum of Understanding on Cooperation and agreed to develop Green and Islamic finances.

The document was signed by the Governor of the Astana International Financial Center Kairat Kelimbetov and the CEO of Casablanca Finance City Authority Said Ibrahimi.

According to the Memorandum, AIFC and Casablanca Finance City Authority intend to cooperate in the sphere of the capital market, asset management, Islamic finance, green finance, financial technologies and human capital development.

The Governor of the AIFC K. Kelimbetov also participated in the International Meeting of Financial Centres for Sustainability, which consolidated representatives of the financial sector from the entire world. Among them, the leaders of International financial centres from Europe, Asia, Africa and Middle East, including, Green Finance Organisation of Japan, the Management Company of the Green Fund of Japan, the Financial Initiative of the United Nations Environment Program, the UN Initiative for Sustainable Exchanges (SSE) and others.

During the event special attention was dedicated to the development of green finance. “Kazakhstan is paying close attention to global environmental issues, we were among the first countries who signed the Kyoto Protocol, ratified the Paris Agreement. Green projects cost a lot of money, nevertheless, they are and should be compatible. Astana International Financial Centre as a new driver of economic and financial growth not only for Kazakhstan, but for Central Asia as well, is already working in this direction and defined green finance as one of its main strategic directions”, said K. Kelimbetov.

The AIFC Governor also informed the participants of the conference about the activities of the AIFC, its core directions of development and advantages for investors. 

As a result of event, participants signed the “Declaration of Financial Centers for Sustainability”. Parties agreed to take strategic actions to promote green finance in International financial centers, exchange knowledges in this sphere and cooperate to expand the range of green assets and products.

In addition, the Declaration officially launched the International Network of Financial Centers for Sustainability. The inaugural meeting of the Network will be held in Italy in early 2018.

It was proposed to hold the next meeting in 2019 in Kazakhstan with support of the AIFC.

 

AIFC. In December 2015 President of the Republic of Kazakhstan Nursultan Nazarbayev signed the Constitutional Statute “On the Astana International Financial Centre” (AIFC). The aim of the AIFC is to establish a leading international centre of financial services. For the first time in the post-Soviet region, a British common law framework will be introduced in the AIFC. English shall be the official language of the AIFC. The objectives of the AIFC are to attract investment into the economy of the Republic of Kazakhstan through the establishment of an attractive environment for investment in financial services, to develop local capital markets, ensuring their integration with the international capital markets, and develop markets for insurance and banking services and for Islamic financing in the Republic of Kazakhstan.

 

Casablanca Finance City Authority is an economic and financial hub aspiring to become a bridging platform between the north and the south. It seeks to attract and encourage international institutions and investors to invest and operate in North, West and Central Africa and to choose Casablanca as a gateway to access this region. CFC intends to build an all-encompassing ecosystem evolving around three business categories: financial companies, professional services providers and regional or international headquarters of multinationals.

 

Declaration