NUR-SULTAN: President of Kazakhstan Kassym-Jomart Tokayev took part in the solemn inauguration ceremony of the AIFC international Arbitration Centre and the Court premises.
The opening ceremony of the building of the AIFC Court and International Arbitration Centre took place as part of the Astana Finance Days. The premises are called after one of the biys, Tole Biy.
The President expressed gratitude to Chief Justice of the AIFC Court Lord Woolf, Chairman of the AIFC International Arbitration Centre Barbara Dohmann QC for their personal contribution to the foundation of the Court and Centre. The AIFC Court is separate and independent from judicial system of Kazakhstan. The AIFC International Arbitration Centre provides an independent alternative to court litigation acting up to the best international standards to settle civil and commercial disputes at the AIFC.
Meanwhile, President of Kazakhstan Kassym-Jomart Tokatev is taking part in the AIFC Council. “Last year the First President of Kazakhstan officially launched the Astana International Financial Centre. And today we welcome our guests and hold the extended meeting at the large and world-class offices built up to the highest international standards. Since the AIFC foundation the Council convened for four times to debate and approve the AIFC development strategy, its structure and other important issues,” the Head of State said addressing those gathered.
As earlier reported, the President inaugurated today AIFC international Arbitration Centre and the Court premises, got familiarized with the centre’s results and development plans. As the Head of State said, the AIFC is a financial centre, centre of competence, professional growth, human capital, green economy, Islamic financing. Since the establishment the AIFC rose 37 positions to rank 51st in the prestigious Global Financial Centres Index. The President also highlighted that Nur-Sultan takes the lead in Eastern Europe, Central Asia. All the conditions and infrastructure were created for successful work of the AIFC to bring proven results.
Courtesy: Media Hub Int’l, UAE