By Joel Benjamin, Adlet Yerkinbayev, Kuanysh Shekerbekov

The briefing discusses below the changes to (i) the Securities Market Law, effective 21 October 2018, and (ii) the NBK Regulation, effective 8 October 2018, affecting certain matters related to the Astana International Financial Center (AIFC). The note is intended to be a helpful guide – it is therefore not comprehensive and does not constitute legal advice.

The changes effectively created legal framework to trade Kazakhstan securities on the AIFC and use AIX as a local stock exchange in international offerings of Kazakhstan resident securities. This was previously available to the Kazakhstan Stock Exchange only.