The President of Kazakhstan Kassym-Zhomart Tokayev on Tuesday took part in the opening ceremony of the buildings of the court and international arbitration centre International financial centre “Astana” (IFCA), reports Interfax.
The building is located on the site of the held specialized exhibition “EXPO-2017”.
“We understand that the rule of law is the Foundation for successful sustainable economic growth. We therefore pay special attention to the formation of modern, professional and independent judicial system accessible justice. Creating the court of IFCA and the international arbitration centre on the principles of English law, we thus completing the formation of the institutional structure AIFC”, – said Tokayev.
The Kazakh leader called the creation of IFCA one of the tools which will help Kazakhstan to enter the top thirty most developed countries of the world.
“We are not afraid of reform, so for the first time on the territory of the former Soviet Union, English law will be successfully applied in our country within the overall justice system. I am convinced that the formation of the court of IFCA from the most respected and influential British judges will also ensure the ultimate success of the court AIFC”, – said the President of Kazakhstan.
The official opening of the IFCA was held in July 2018, registration of companies started in January last year. The centre is intended to increase the flow of investments into the economy of the country by creating an attractive investment environment in the financial services industry and capital markets, including securities, banking and Islamic Finance (governed by the rules and regulations of Islamic law). The court IFCA operates on the principles of English law. In IFCA operates a special tax, currency, visa requirements.