CMA Signs an MoU with Astana Financial Services Authority (AFSA)

The Capital Market Authority (CMA) signed a Memorandum of Understanding (MoU) with Astana Financial Services Authority (AFSA) of the Republic of Kazakhstan; which stems from the CMA’s endeavors to enhance cooperation frameworks with international authorities to join the efforts and exchange information.  This MoU is the basis of a mutual cooperation in the processes of regulation and information exchange; which enhances transparency and supports efficiency of the financial markets sectors in both countries. The MoU was signed online by HE Sheikh Abdullah Salim Al Salmi, Executive President of the CMA and Nurkhat Kushimov, Chief Executive Officer of AFSA with the attendance of a number of directors and officials from both parties.

This MoU represents a distinctive partnership between CMA and AFSA and sets a new direction for the mutual cooperation that accomplishes an important mutual benefit in the fields of fintech, Islamic finance, asset management, capital markets and financial culture.  The MoU also aims to consolidate efforts to enhancing transparency level and sound transactions in the financial markets through cooperation in the fields of markets’ regulation, enforcement of laws and regulations by regulated entities and prohibition of illegal practices, to support efficiency of the securities sector to be in promising prospects in both countries.

Moreover, the MoU aims at coordinating the positions of both parties in terms of their membership in related international organizations, participation in activities and events of such organizations in addition to specifying the fields of technical support to enhance legal and regulatory infrastructure of both countries such as exchange of regulatory expertise, experts visits, exchange of capital market- related research and publications, qualification of licensed persons which meets the best standards and global directions and professional development while ensuring integrity of transactions.