Kazakhstan's new financial hub looks to play role in Belt and Road Initiative

LONDON -- Kazakhstan wanted to be involved with China in the Belt and Road Initiative through a newly-established Kazakh financial hub, Astana Financial Services Authority (AFSA) Chairman Lady Barbara Judge CBE said on Tuesday.

AFSA is an independent regulator of the Astana International Financial Center (AIFC), a financial hub officially launched in July 2018 to attract financial resources.

"We want to attract investors who are interested in the Belt and Road Initiative. We want to attract investors who are interested in being international and in building partnerships with the Kazakhs," Lady Judge said in an interview after a Kazakhstan investment forum hosted by the Financial Times in London.

AIFC has already had a close relationship with Chinese companies. China Development Bank has opened a representative office in AIFC and other top Chinese banks are following suit. Shanghai Stock Exchange owns 25 percent of the AIFC's Astana International Exchange.

AIFC, with its international-standard regulations, will make investors feel they trade in an open, transparent, fair and ethical environment, Lady Judge said, hopeful for Chinese businesses to break new ground in Kazakhstan.

"Astana looks forward to becoming the fintech capital of the region and there are so much startup business, so many engineering and clever entrepreneurs in China that they can come and find a happy home in Kazakhstan," Lady Judge said.