Astana Financial Services Authority (AFSA)

The Astana Financial Services Authority (AFSA) was launched on 1 January 2018 as the independent regulator of the Astana International Financial Centre (AIFC). AFSA is a legal entity and statutory body of the Republic of Kazakhstan, and is established in accordance with the Constitutional Law of the Republic of Kazakhstan "On the Astana International Financial Centre". AFSA is a regulator of both financial and non-financial services activities. It regulates Centre Participants carrying out financial and ancillary services and capital markets activities within the territory of AIFC. AFSA is also the regulator of companies registered by the AFSA that carry out non-financial services activities. Objectives AFSA acts independently of AIFC bodies and state bodies within the limits provided for by applicable legislation and is accountable to the Management Council and the Governor of the AIFC. In carrying out its functions, AFSA pursues the following objectives: - the regulation, control and supervision of financial activities in the AIFC by Centre Participants with a view to the maintenance of the safety and soundness of the financial system within the AIFC; - ensuring that financial markets in the AIFC are fair, efficient, transparent and orderly; - creating fair, transparent and non-discriminatory conditions for Centre Participants;fostering and maintaining confidence in the AIFC’s financial system and regulatory regime; - fostering and maintaining the financial stability of the AIFC’s financial services industry and capital markets, including the reduction of systemic risks; - preventing, detecting and restraining actions that may cause damage to the reputation of the AIFC or to the financial activities carried out in the AIFC by taking appropriate measures, including by imposing sanctions; - protecting interests of investors and users of financial services; - implementing in the AIFC a regulatory regime that complies with international standards in the sphere of regulation of financial services; - and fostering the development of financial technologies in the AIFC. Mission, Vision and Principles The AFSA’s mission is to establish an environment that delivers fair and transparent financial and capital markets, in which individuals and institutions act with integrity. Its vision is to be a globally respected regulator of financial services in Eurasia delivering a legal and regulatory framework that demands high standards of behaviour, inspires innovation and creates a fair and safe environment in which investors have confidence and business is trusted. The AFSA team strives to act in an ethical, transparent and accountable manner, to deal with businesses and individuals fairly, impartially and professionally, and to promote the highest standards of corporate governance